Which of the Following Is Influenced the Least by the Occurrence

question 144

Multiple Choice

Which of the following is influenced the least by the occurrence of extreme values in a sample?

• A) mean
• B) median
• C) geometric mean
• D) weighted mean

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Definitions:

Inputs

Resources, such as labor, materials, and capital, that are used in the production process to create goods and services.

Minimum Cost

The lowest possible cost at which a particular set of goods or services can be produced or acquired without sacrificing quality or quantity.

Factor Prices

The prices of the inputs used in the production process, such as labor wages, capital rental rates, and raw material costs.

Production Function

An equation that describes the output of a production process, given the quantity of inputs used.