Which of the Following Is True for a Median

question 76

Multiple Choice

Which of the following is true for a median?

• A) A median is only meaningful for interval or ordinal data and not for ratio data.
• B) Medians can be calculated no matter how the data is arranged.
• C) Medians are affected by outliers.
• D) For an even number of observations, the median is the mean of the two middle numbers.

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Definitions:

Ending Cash Balance

The amount of cash available in a company's account at the end of a financial period.

Selling

The process of promoting and transferring goods or services to customers in exchange for payment.

Administrative Expenses

Costs related to the general operation of a business, including salaries of administrative personnel, office supplies, and other non-production-related expenses.

Cash Receipts

The collection of money, including coins, notes, checks, and electronic transfers, by a business from its customers or other sources.