A Data Set Contains Three Unique Values

question 46

Multiple Choice

A data set contains three unique values. Which of the following must be true?

• A) mean = median = midrange
• B) median = midrange
• C) mean = median
• D) none of these

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Definitions:

Production Possibilities

This represents a diagram that outlines the peak production options for two different goods, taking into account a mixture of inputs such as resources and other variables.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two or more goods, given a set of inputs, representing the trade-offs in production choices.

Opportunity Cost

The consequence of dismissing the next most suitable option while deciding.

Production Possibilities

Various combinations of the amounts of goods and services that an economy can produce efficiently with its available resources and technology.