Which of the Following Is True of Outliers in a Data

question 9

Multiple Choice

Which of the following is true of outliers in a data set?

• A)All outliers should be eliminated in order to portray accurate information.
• B)Outliers that are within 1 standard deviation of the mean must be eliminated.
• C)The mean and range are sensitive to outliers in the data.
• D)Outliers do not make any difference in the results obtained from statistical analyses.

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Definitions:

Financial Accounting Standards Board

An independent organization responsible for establishing and improving financial accounting and reporting standards in the United States.

Net Income

The total profit of a company after accounting for all expenses and taxes; also known as net earnings or net profit.

Cash Receipts

The monetary amounts received by a company during a specific period for goods sold, services provided, or any other business activities.

Bank Loan

A sum of money borrowed from a bank that must be repaid with interest over a predetermined period.