Which of the Following Is True for a Median

question 1

Multiple Choice

Which of the following is true for a median?

• A) A median is only meaningful for interval or ordinal data and not for ratio data.
• B) Medians can be calculated no matter how the data is arranged.
• C) Medians are affected by outliers.
• D) For an even number of observations, the median is the mean of the two middle numbers.

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Definitions:

Machinery

Machinery encompasses machines and their components, which are used in industry or manufacturing to perform tasks, including vehicles, equipment, and factory machines.

Mark-up

Markup is the percentage difference between the selling price and the cost price of a product or service.

Selling Price

The amount of money for which a product or service is sold to the customer, which may include costs and markup.

Mark-up

Mark-up refers to the difference between the cost of a good or service and its selling price, expressed as a percentage over the cost.