Which of the Following Is the Best Definition of Variability

question 21

Multiple Choice

Which of the following is the best definition of variability?

• A) it is the amount of dispersion in a data set containing interval or nominal data
• B) the difference between scores in the present sample and scores in a previous sample
• C) the amount of dissimilarity in ordinal data
• D) amount of dissimilarity (or similarity) in respondents' answers to a particular question
• E) the amount of responses in one respondent's answers to a particular survey question

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Definitions:

Materials Costs

The cost of raw materials used in the production of goods, a major component of the total manufacturing cost.

Processing Costs

Costs incurred in the course of converting raw materials into finished goods, including labor and overhead expenses.

Relevant

Pertains to information or costs that are pertinent to a particular decision, differing under the alternatives being considered.

Financial Advantage

The benefit derived from making a financial decision that results in gains exceeding costs.