What Is the Plausible Value Range of a Measure of Position

question 44

Essay

What is the plausible value range of a measure of position such as percentiles? Explain your answer.

---

Definitions:

Expansion

A phase in the business cycle where economic activity is increasing, characterized by higher output, employment, and trade.

Time Period

A specific duration or interval of time, often used in the context of analysis, planning, or measurement within various fields including finance and economics.

Recession

A period of temporary economic decline during which trade and industrial activities are reduced, typically recognized by a fall in GDP in two consecutive quarters.

1937-1938

The period marking a recession within the Great Depression in the United States, often attributed to contractionary monetary and fiscal policies.