The Environmental Protection Agency Records Data on the Fuel Economy

question 120

Multiple Choice

The Environmental Protection Agency records data on the fuel economy of many different makes of cars.Data on the mileage of 20 randomly selected cars are listed below.The values are ordered for convenience. What is the median mileage for these 20 cars?

• A)17.5 miles per gallon
• B)19 miles per gallon
• C)19.5 miles per gallon
• D)20 miles per gallon

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Definitions:

Net Income After Taxes

The profit a company retains after all operating expenses, interest, taxes, and preferred stock dividends have been deducted from total revenue.

Operating Costs

Operating costs are expenses associated with the maintenance and administration of a business on a day-to-day basis.

Depreciation Expense

The allocated portion of the cost of a fixed asset, written off each year over the asset's useful life for accounting and tax purposes.

Scarcity

Occurs when the amount people desire exceeds the amount available at a zero price.