Which Measure of Central Tendency Can Be Used for Both

question 55

Multiple Choice

Which measure of central tendency can be used for both numerical and categorical variables?

• A)Arithmetic mean.
• B)Median.
• C)Mode.
• D)Geometric mean.

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Definitions:

Fair Market Value

The price at which an asset would change hands between a willing buyer and seller, each having reasonable knowledge of relevant facts, and neither being under compulsion to buy or sell.

Material Facts

Facts that are significant or essential to the issue at hand, and that can influence a decision or outcome.

Void

Refers to an agreement or contract that is deemed legally invalid and unenforceable from the outset, as if it never existed.

Reformation

A court-ordered correction or modification of a written contract to reflect the true intentions of the parties when the contract was mistakenly drafted.