The 25th Percentile for Waiting Time in a Doctor's Office

question 115

Multiple Choice

The 25th percentile for waiting time in a doctor's office is 19 minutes.The 75th percentile is 31 minutes.Which is incorrect regarding the fences?

• A)The upper inner fence is 49 minutes.
• B)The upper outer fence is 67 minutes.
• C)A waiting time of 45 minutes exceeds the upper inner fence.
• D)A waiting time of 70 minutes would be an outlier.

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Definitions:

Total Revenue

The overall income generated by a business from its sale of goods or services, calculated as the price per unit times the number of units sold.

Elasticity Of Supply

A measure of how much the quantity supplied of a good changes in response to a change in price.

Price Elastic

A characteristic of goods for which demand or supply changes significantly when the price changes.

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A series of automobiles manufactured by Honda, known for their reliability and efficiency.