Which of the Following Statements About the Standard Deviation IS

question 6

Multiple Choice

Which of the following statements about the standard deviation IS true?

• A) It is closely associated with the median
• B) If the distribution is not too skewed, most values lie within 2 standard deviations of the mean
• C) As all the data points are taken into account it is representative of the data
• D) Half of all data points are within 1 standard deviation of the mean if the distribution is not too skewed

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Definitions:

Business Owners

Individuals who legally possess a company, assume major risks, and enjoy the benefits from its operation and growth.

Inventories

Quantities of goods or materials that a company holds for the purpose of sale or production at a given time.

Recession

An appreciable fall in economic activities spread throughout the economy, continuing for longer than a few months, typically observed in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of goods and services produced in an economy at constant prices.