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On a survey questionnaire,students were asked to indicate their class rank in college.If there were only four choices from which to choose,which measure(s) of central location would be appropriate to use for the data generated by that questionnaire item?
Crude Oil
A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials used as a primary energy source.
Gasoline Prices
The cost per unit volume of gasoline, often subject to fluctuations due to factors such as crude oil prices, taxes, and supply and demand.
Invisible Hand
A metaphor introduced by Adam Smith to describe the unintended social benefits resulting from individual actions when seeking personal gain.
Market Prices
The current price at which an asset or service can be bought or sold in the marketplace, determined by the forces of supply and demand.
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