The Mode Is Used Infrequently in Business Applications Because It

question 313

Multiple Choice

The mode is used infrequently in business applications because it:

• A)is difficult to compute.
• B)does not represent the true center of numerical data.
• C)is too labor intensive.
• D)is an accurate measure of central tendency.

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Definitions:

Supply Increased

A situation in which the quantity of a good or service that producers are willing and able to offer for sale rises, possibly leading to lower prices.

Demand Increased

A situation where the desire or need for a product or service rises, leading to potentially higher prices and/or increased production.

Quantity Demanded

The overall volume of a good or service that individuals are prepared and capable of buying at a given price.

Demand Decreased

A situation where the desire or need for a particular product or service declines.