A Disadvantage of Using an Arithmetic Mean to Summarize a Set

question 104

Multiple Choice

A disadvantage of using an arithmetic mean to summarize a set of data is

• A) It can be used for interval and ratio data.
• B) It is always different from the median.
• C) It can be biased by one or two extremely small or large values.
• D) The arithmetic mean sometimes has two values.

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Definitions:

Expected Annual Orders

An estimate of the quantity of orders a company anticipates receiving within a one-year period based on market analysis and sales forecasts.

Present and Potential Sales

Analysis or estimation of current sales figures combined with the forecasted or potential sales in the future.

Relationship Selling

Relationship selling is a sales approach that focuses on creating and maintaining long-term relationships with customers rather than just focusing on immediate sales.

Follow-up

The act of continuing communication or action with a prospect or customer after an initial interaction or sale.