Which Measures of Central Location and Variability Are Considered to Be

question 6

Multiple Choice

Which measures of central location and variability are considered to be resistant to extreme values?

• A)The mean and standard deviation.
• B)The mode and variance.
• C)The median and interquartile range.
• D)None of these choices.

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Definitions:

Natural Resources

Materials or substances occurring in nature which can be exploited for economic gain.

Human Capital

The stock of competencies, knowledge, social and personal attributes, including creativity, embodied in the ability to perform labor so as to produce economic value.

Physical Capital

Assets that are tangible, such as machinery, buildings, and equipment, which are used in production to create other goods or services.

Production Function

A mathematical model that describes the relationship between inputs used in production and the output of goods or services.