The Mean Is an Appropriate Measure of Central Tendency for

question 62

Multiple Choice

The mean is an appropriate measure of central tendency for

• A) data that are normally distributed.
• B) data that are on an interval or ratio scale.
• C) data in which the mean, median, and mode are equal.
• D) all of these.

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Definitions:

CPI

This index, known as the Consumer Price Index, evaluates the weighted average cost of a collection of goods and services bought by consumers, covering areas like food, medical care, and transportation.

Base Year

A specific year against which economic growth is measured, serving as a benchmark for relative economic data comparisons.

Business Cycle

The cyclical fluctuations in economic activity that an economy experiences over a period of time, including periods of expansion and contraction.

Last Recession

The most recent period of significant decline in economic activity spread across the economy, lasting more than a few months, typically visible in real GDP, real income, employment, industrial production.