Many Nominal and Ordinal Variables Have a Singular Central Tendency

question 30

True/False

Many nominal and ordinal variables have a singular central tendency that is captured clearly by the mode.

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Definitions:

Salvage

A reward given to persons who voluntarily assist a sinking ship to recover its cargo from peril or loss.

Sinking Ship

A metaphor often used to describe a situation, organization, or entity that is in deep trouble, deteriorating, or seemingly doomed to failure.

Uniform Transfer to Minors Act

The Uniform Transfers to Minors Act (UTMA) is a law that allows assets to be transferred or gifted to minors without the need for a formal trust.

Custodianship Terminate

The process by which a custodial arrangement, where one party holds property or assets for the benefit of another, comes to an end.