What Would Be Your Preferred Measure of Central Tendency If

question 14

Multiple Choice

What would be your preferred measure of central tendency if you had the following data: $31,550;$33,750;$34,700;$37,550;$39,275?

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

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Definitions:

Domestic Supply and Demand

Refers to the quantity of a product or service available and the desire for it within a single country.

Tariff Revenue

Income that a government earns from the imposition of import and export duties.

Dumping

The practice of exporting goods at a price lower than the home market price, often considered unfair competition.