The Measure of Central Location Most Often Reported for Annual

question 99

Multiple Choice

The measure of central location most often reported for annual income and property value data is the _____.

• A) median
• B) mode
• C) weighted mean
• D) aggregate mean

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Definitions:

Degrees of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution or to a mechanism, minus the number of parameters that constrain these values.

Student t Distribution

A probability distribution that is used to estimate population parameters when the sample size is small and the population variance is unknown.

Parameter v

In statistics, it can refer to a parameter associated with a specific distribution or model, often used to denote degrees of freedom in certain distributions.

Variance V(t)

A statistical measure of the dispersion of a set of data points in a data series around the mean, denoted as V(t) when considering time-series data.