I the Sum of the Deviations from the Mean for the Set

question 86

Multiple Choice

i. The sum of the deviations from the mean for the set of numbers 4, 9 and 5 will equal zero.
ii. If there is an even number of ungrouped values, the median is found by arranging them from low to high and then determining the arithmetic mean of the two middle values.
Iii) For salaries of $102,000, $98,000, $45,000, $106,000 and $101,000, the arithmetic mean would be an appropriate average.

• A) (i), (ii) and (iii) are all correct statements
• B) (i) and, (ii) are correct statements but not (iii).
• C) (i) and, (iii) are correct statements but not (ii).
• D) (ii) and, (iii) are correct statements but not (i).
• E) All statements are false

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Definitions:

Lunch Special

A discounted or specially designed meal offered by restaurants during lunch hours to attract customers.

Markup Pricing

A pricing method in which a certain amount is added to the cost of the product, to set the final price; also called cost-plus pricing.

Profit Margin

A financial metric that measures the amount by which revenue from sales exceeds costs in a business, expressed as a percentage of total sales.

Break-Even

The point at which total costs and total revenue are equal, resulting in no net loss or gain.