Which of the Following Is NOT a Statistic That Is

question 81

Multiple Choice

Which of the following is NOT a statistic that is associated with the measures of location of frequency distribution?

• A)mean
• B)mode
• C)median
• D)maxima
• E)All are associated with measures of location.

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Definitions:

Coefficient

A numerical or constant factor in an equation that multiplies the variable, indicating the degree or level of some effect.

Price Elasticity of Supply

The measure of how the quantity supplied of a good changes in response to a change in its price.

Midpoint Formula

A method used in economics to calculate the elasticity of a variable, often used to estimate the price elasticity of demand by averaging the start and end points of a demand curve.

Elastic

A characteristic of a product or service demand that indicates a sensitivity to price changes, where a small change in price leads to a significant change in quantity demanded or supplied.