A Business Analyst Identifies Three Possible Demand Levels for the New

question 31

True/False

A business analyst identifies three possible demand levels for the new service they are considering for the new year.In addition to the levels of demand,the analyst estimates the likelihood of occurrence for each of these levels of demand.If he calculates the expected value of demand he should expect that the calculated value matches one of the three levels he originally identified.

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Definitions:

Interquartile Range

Range of the middle 50% of the scores in a set of data.

Variance

A statistical measure expressing the degree of dispersion or spread in a set of values, specifically the average of the squared differences from the mean.

Range

Mathematical difference between the lowest and highest scores in a set of data.

Interquartile Range

A measure of statistical dispersion, representing the difference between the 75th and 25th percentiles.