For a Data Set That Has Been Skewed Due to Outliers

question 10

Multiple Choice

For a data set that has been skewed due to outliers, what measure of central tendency is most accurate and should be reported?

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

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Definitions:

Elastic

Describes a situation in which the demand or supply for a good or service significantly changes in response to a change in price.

Inelastic

Describes a situation where the demand or supply for a good or service is unresponsive to changes in price.

Equilibrium Quantity

The amount of goods or services available that matches the amount desired by consumers at the price where supply and demand balance.