For Nominal Data, the Measure(s) of Central Tendency and Dispersion

question 3

Multiple Choice

For nominal data, the measure(s) of central tendency and dispersion that can be computed is(are)

• A) mode, median, mean, standard deviation
• B) mode, median
• C) mode, median, mean, standard deviation, geometric and harmonic mean
• D) mode

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Definitions:

Requirements Contract

An agreement in which one party agrees to purchase all of his or her requirements of a particular product from another party. See also output contract.

Output Contract

An agreement in which a seller agrees to sell “all the goods we manufacture” or “all the crops we produce” to a particular buyer. See also requirements contract.

Valid Contract

A contract that is legally binding and fully enforceable by the court.

Future Goods

Goods that are not yet in existence or under the control of people; they include fish in the sea, minerals in the ground, goods not yet manufactured, and commodities futures.