A Store Owner Wants to Make Sure She Has Enough

question 113

Multiple Choice

A store owner wants to make sure she has enough shirts in the right sizes in her inventory,so she buys a lot of shirts in the most popular size.In order to make this purchase,what type of statistic would she want to know?

• A) mode
• B) mean
• C) standard deviation
• D) range

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Definitions:

Weak Relationship

Refers to a situation where the correlation between two variables is low, indicating that they have little association with each other.

Correlation

A measure of the relationship between two or more variables; the degree to which they change together.

Coefficient of Alienation

A statistical measure used to quantify the degree of relationship or non-relationship between two variables, often indicating the extent to which they are unrelated.

Unexplained Variance

The portion of the total variance in a dataset that is not accounted for by the statistical model.