The Tendency of Measurements to Cluster Around Some Value near the Middle

question 101

Multiple Choice

The tendency of measurements to cluster around some value near the middle is called the ________.

• A) central tendency
• B) norm
• C) nominal tendency
• D) peripheral tendency

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Definitions:

Physical Inventory Count

A process of counting actual inventory to verify the quantity on hand, usually performed at the end of an accounting period.

Inventory

Inventory consists of the goods and materials a business holds for the purpose of resale or production.

Long-Term Asset

A resource that is expected to provide economic benefits to a company for more than one fiscal year.

Balance Sheet

A financial overview presenting the resources, obligations, and equity of shareholders of a company at a specific point in time.