Which of the Following Is NOT a Statistic That Is

question 16

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) C and D

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Definitions:

Prices

The monetary value expected, necessary, or allocated for the purchase of something.

Utility-maximizing Combination

The selection of goods and/or services that provides the highest level of satisfaction to a consumer, given their budget constraint.

Marginal Utility

The additional utility or satisfaction gained from consuming one more unit of a good or service.

Specific Money Outlay

The exact amount of money expended on purchasing goods and services or on an investment.