Give an Example to Illustrate That the Median Should Not

question 289

Essay

Give an example to illustrate that the median should not always be preferred to the mean when the population or sample is skewed.

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Definitions:

Services

Intangible products such as consultancy, maintenance, or repair that are bought and sold in the marketplace.

Telephone Bill

A monthly statement charging an individual or company for the use of telephone services.

Expense

An outflow of cash or other valuable assets that a business incurs as a result of its operations intended to generate revenue.

Liability

Financial obligations or debts that a company owes, which are settled over time through the transfer of economic benefits including money, goods, or services.