If You Calculate the Average of Individual Income and Find

question 59

Multiple Choice

If you calculate the average of individual income and find no outliers,which measure of central tendency should you use?

• A)mode
• B)median
• C)mean
• D)other

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Definitions:

Statute of Frauds

A legal principle requiring certain contracts to be in writing and signed by the party to be charged to be enforceable.

Oral Contract

An agreement between parties that is spoken, not written, but is still legally binding.

Customized Goods

Products that are specifically made according to the specifications or requirements of a customer.

Partial-Performance Exception

A legal principle that allows for the enforcement of an oral contract when one party has taken significant action based on the agreement, despite the lack of a written contract.