Which of the following is an accurate description of how consumer surplus is measured? choose one of the following.

consumer surplus is the difference between the amount the consumer is willing to pay and the lowest price charged for the good or service.

consumer surplus is the difference between the equilibrium price and the highest price of the good or service.

consumer surplus is the difference between the equilibrium price and the lowest price of the good or service.

consumer surplus is the difference between the amount the consumer is willing to pay and the equilibrium price charged for the good or service

The wall street journal reported that walmart stores inc. is planning to lay off 2,300 employees at its sam's club warehouse unit. approximately half of the layoffs will be hourly employees (the wall street journal, january 25-26, 2014). suppose the following data represent the percentage of hourly employees laid off for 15 sam's club stores. 55 56 44 43 44 56 60 62 57 45 36 38 50 69 65 (a) compute the mean and median percentage of hourly employees being laid off at these stores. (b) compute the first and third quartiles. (c) compute the range and interquartile range. (d) compute the variance and standard deviation. (e) do the data contain any outliers? (f) based on the sample data, does it appear that walmart is meeting its goal for reducing the number of hourly employees?