A national restaurant chain is composed of 6500 restaurants, each of which is located in close proximity to an interstat

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A National Restaurant Chain Is Composed Of 6500 Restaurants Each Of Which Is Located In Close Proximity To An Interstat 1 (80.19 KiB) Viewed 55 times

A national restaurant chain is composed of 6500 restaurants, each of which is located in close proximity to an interstate highway. The restaurant's business strategy is to serve its core customer base: people travelling on the interstate highway system who are looking for a quality dining experience. Customers generally enjoy the restaurant chain's menu, atmosphere, and consistency from restaurant to restaurant. The company's leadership, located at corporate headquarters, is very interested in the relationship between the cost of a gallon of gasoline and the company's revenue. Specifically, the company is concerned that if gasoline prices rise in the near future, the company's revenue will decline dramatically. The company's research department recently collected data for analysis in order to support leadership's upcoming discussion of whether the company should expand and diversify to locations away from an interstate highway. Annual revenue figures from a random sample of 150 restaurants were collected. The research division also collected and calculated the average annual cost of gasoline at these 150 restaurants by randomly selecting three gasoline stations near each restaurant. Historical data was then used to calculate the average annual cost of gasoline. The Restaurant Number, Geographic Region, Annual Revenue, Average Cost of Gasoline, Miles from the Interstate, Square Footage and Annual Increase in Revenue were collected for these 150 restaurants. StatCrunch Data Set C What does the IQR represent in the context of the Average Cost of Gasoline data? O A. The IQR is the average range of each sample of gasoline costs for each of the locations. O B. The IQR is the range between the maximum average gasoline cost and the minimum average gasoline cost. OC. The IQR is range within which the middle half of average gasoline costs fall. O D. The IQR is average of the ranges of the second and third quarters of the average gasoline costs.