Consider the Following Data Set: 14, 14, 15, 16, 18

question 107

Multiple Choice

Consider the following data set: 14, 14, 15, 16, 18, 19, 19, 20, 21, 22, 23, 25, 25, 25, 25, and 28. The rank assigned to the four observations of value 25 is:

• A) 12
• B) 12.5
• C) 13
• D) 13.5
• E) 14

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Definitions:

Work Papers

Work Papers refer to documents prepared or obtained by auditors as part of their examination and review of an organization's financial statements.

Auditing

The process of reviewing and assessing the financial records of an entity to ensure accuracy and compliance with accounting standards and regulations.

Property of the Client

Assets or items that legally belong to the client and are often held or used by another party in trust or for a specific purpose.

Consequential

Relating to consequences or effects, particularly in the context of damages in contracts, where it refers to losses arising as a result of a breach.