The Median Has at Least One Advantage Over the Mean

question 49

Multiple Choice

The median has at least one advantage over the mean in that

• A) it is not much affected by extreme scores.
• B) it is easier to calculate than the mode.
• C) it is usually closer to the population mean than the mode.
• D) it varies less from sample to sample.

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Definitions:

Fixed Costs

Costs that do not vary with the volume of output, such as rent, salaries, and insurance.

Target Net Profit

The desired bottom-line profit that a company aims for after all expenses have been subtracted from revenue.

Safety Margin

The difference between your actual or projected sales and the sales level needed to break even.

Tax Rate

The percentage at which an individual or corporation is taxed by the government, which can vary based on income level, type of income, or legal entity type.