The Two More Useful Measures of Variation in the Distribution

question 1

Multiple Choice

The two more useful measures of variation in the distribution of data are the variance and standard deviation.Which of the following best explains why standard deviation is the more commonly reported measure of variation?

• A)Standard deviation is easier to calculate than variance.
• B)Standard deviation provides information on how close together or far apart values are in the sample of data, whereas variance does not provide this information.
• C)The units for standard deviation are the same as sample data, whereas the units for variance differ from that of the sample data.
• D)Variance is primarily based on the highest and lowest value of the sample data, whereas standard deviation is based on all sample data.

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Definitions:

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A division within a company that handles inquiries, complaints, and other interactions with customers to ensure satisfaction and support.

Capacity Analysis

The process of determining the maximum level of output a company or production facility can achieve within a given period, considering limitations such as equipment and labor.

Time-Driven Activity-Based Costing

A refinement of activity-based costing that assigns costs based on the actual duration activities take, using predetermined time estimates.

Customer Service Department

A division of a business that handles queries, supports customers with problems or complaints, and provides information about products or services.