When Should Measures of Location and Dispersion Be Computed from Grouped

question 42

Multiple Choice

When should measures of location and dispersion be computed from grouped data rather than from individual data values?

• A)as much as possible since computations are easier
• B)only when individual data values are unavailable
• C)whenever computer packages for descriptive statistics are unavailable
• D)only when the data are from a population

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Definitions:

Real GDP

Gross Domestic Product adjusted for inflation, representing the value of all goods and services produced over a specific time period, measured in constant prices.

GDP Deflator

An economic metric that converts the nominal GDP to real GDP by adjusting for changes in price levels, allowing comparison across years.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of goods and services produced by an economy in a given year at constant prices.

GDP Deflator

A measure of the level of prices of all new, domestically produced, final goods and services in an economy relative to the prices in a base year.