The Sample Data Below Shows the Number of Hours Spent

question 117

Multiple Choice

The sample data below shows the number of hours spent by 5 students over the weekend to prepare for Monday's Business Statistics exam. The mean and the median of the numbers of hours spent by the 5 students are

• A)2 hours and 5 hours,respectively
• B)3 hours and 5 hours,respectively
• C)5 hours and 2 hours,respectively
• D)5 hours and 3 hours,respectively

---

Definitions:

Alternative Activities

Options or activities that can be chosen as alternatives to the current activity being engaged in, often considered in the context of opportunity cost.

Comparative Advantage

The ability to make something at a lower opportunity cost than other producers face.

Absolute Advantage

The ability to make something using fewer resources than other producers use.

Comparative Advantage

The ability of an individual, company, or country to produce a good or service at a lower opportunity cost than competitors, leading to more efficient production and trade.