One Relative Weakness of the ______ as a Measure of Central

question 78

Multiple Choice

One relative weakness of the ______ as a measure of central tendency is that it ______.

• A) mode; is affected by outliers
• B) mean; is affected by outliers
• C) mean; does not take into account all of the scores
• D) median; is affected by outliers

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Definitions:

Nonexcludability

A characteristic of certain goods where it is difficult or impossible to prevent someone from using the good once it has been provided.

Optimal Quantity

The amount of a good or service that yields the maximum benefit or utility to the consumer or producer.

Marginal Cost

The cost of producing one additional unit of a good or service, important in making decisions about production levels and pricing.

Public Good

Goods or services that are non-excludable and non-rivalrous, meaning they can be used by many without diminishing availability to others.