(i. Five students were given a page of problems with the instructions to solve as many as they could in one hour. Five students solved the following number of problems: 12, 10, 8, 6 and 4. The arithmetic mean number of minutes required per problem is 7.5 minutes (average of 8 problems in an hour). (ii) David Electronics had a profit of $10 million in 1998. Profit doubled from 1998 to 1999 and profit increased eight fold from 1999 to 2000. The annual geometric mean rate of growth from 1998 to 2000 was 300% (4 fold).
(iii) The difference between the highest and the lowest value in a set of data is called the range.
A) (i), (ii) and (iii) are all correct statements
B) (i) and (ii) are correct statements but not (iii).
C) (i) and (iii) are correct statements but not (ii).
D) (ii) and (iii) are correct statements, but not (i).
E) (i), (ii) and (iii) are all false statements.

Question

Quizplus · Accepted Answer

(i) and (ii) are correct statements because they are both true statements about arithmetic mean and geometric mean, respectively. (iii) is also a correct statement because it is a definition of range.

(I Five Students Were Given a Page of Problems with the Instructions