Which Statement About Deciles Is NOT True

question 7

Multiple Choice

Which statement about deciles is NOT true?

• A) They split a data set up into 10 parts
• B) D₅ is the median point
• C) They are commonly used when discussing wages
• D) Deciles have a tendency to misrepresent data

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Definitions:

Marginal Cost Curve

A graphical representation showing the change in total cost produced by making one additional unit of a good or service.

Average Variable Cost

The total variable cost of producing goods divided by the quantity of goods produced.

Law of Diminishing Marginal Returns

A rule of economics that asserts when a single production element is expanded and the rest stay unchanged, there will ultimately be a decline in total output after reaching a specific threshold.