Does the Mode of a Numerical Data Set Always Lie

question 20

Essay

Does the mode of a numerical data set always lie close to the median? Explain your answer and give an example of a data set to illustrate your answer.

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Definitions:

Periodic Cash Payments

Regular financial payments made over a stipulated period, such as dividends or loan repayments.

Depreciation Expense

Methodically spreading out the expense of a physical asset across its period of usability.

Capital Lease

A lease classified as a purchase by the lessee, whereby the lessee records the leased asset as an owned asset on the balance sheet.

Bargain Purchase Option

A lease agreement provision allowing the lessee to purchase the leased asset at a price significantly lower than its expected fair market value at the end of the lease term.