What Is the Relationship Among the Mean, Median and Mode

question 53

Multiple Choice

What is the relationship among the mean, median and mode in a symmetric distribution?

• A) All equal
• B) Mean is always the smallest value
• C) Mean is always the largest value
• D) Mode is the largest value
• E) None of the choices are correct.

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Definitions:

Opportunity Cost

The worth of the second-best option that is given up as a consequence of deciding on a course of action.

Production Possibility Frontiers

A curve depicting all maximum output possibilities for two goods, given a set of inputs.

Rice

A staple food grain consumed widely around the world, particularly in Asia, known for its versatility and ability in sustaining large populations.

Comparative Advantage

The ability of an individual or country to produce a particular good or service at a lower opportunity cost than others.