Listed are 29 ages for Academy Award winning best actors
in order from smallest to largest. 18; 21; 22; 25; 26; 27; 29; 30; 31; 33; 36; 37; 41; 42; 47; 52; 55; 57; 58; 62; 64; 67; 69; 71; 72; 73; 74; 76; 77
Find the percentile for 58.
Find the percentile for 25.
Counting from the bottom of the list, there are 18 data values less than 58. There is one value of 58.
x = 18 and
y = 1.
(100) =
(100) = 63.80. 58 is the 64
th percentile.
Counting from the bottom of the list, there are three data values less than 25. There is one value of 25.
x = 3 and
y = 1.
(100) =
(100) = 12.07. Twenty-five is the 12
th percentile.
A percentile indicates the relative standing of a data value when data are sorted into numerical order from smallest to largest. Percentages of data values are less than or equal to the pth percentile. For example, 15% of data values are less than or equal to the 15
th percentile.
Low percentiles always correspond to lower data values.
High percentiles always correspond to higher data values.
A percentile may or may not correspond to a value judgment about whether it is "good" or "bad." The interpretation of whether a certain percentile is "good" or "bad" depends on the context of the situation to which the data applies. In some situations, a low percentile would be considered "good;" in other contexts a high percentile might be considered "good". In many situations, there is no value judgment that applies.
Understanding how to interpret percentiles properly is important not only when describing data, but also when calculating probabilities in later chapters of this text.
Guideline
When writing the interpretation of a percentile in the context of the given data, the sentence should contain the following information.
information about the context of the situation being considered
the data value (value of the variable) that represents the percentile
the percent of individuals or items with data values below the percentile
the percent of individuals or items with data values above the percentile.
On a timed math test, the first quartile for time it took to finish the exam was 35 minutes. Interpret the first quartile in the context of this situation.
Twenty-five percent of students finished the exam in 35 minutes or less.
Seventy-five percent of students finished the exam in 35 minutes or more.
A low percentile could be considered good, as finishing more quickly on a timed exam is desirable. (If you take too long, you might not be able to finish.)
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
When MP₁ becomes negative, TP start to decline.
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Economic growth as an increase in the production and consumption of goods and services within an economy.but
Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has
The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50.
A,Calculate quantities of x and y which maximize utility.
B,Calculate value of Lagrange multiplier.
C,Calculate quantities of X and Y consumed with a given price.
D,alculate optimum level of output .
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
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