The Median Has the Property of Minimizing the Sum of Absolute

question 15

True/False

The median has the property of minimizing the sum of absolute deviations from it.

---

Definitions:

Sales Era

A period in business thought where the primary focus was on selling available products and services, often regardless of customer needs.

Market Orientation

A business approach that prioritizes identifying and meeting the needs and wants of customers.

Goods

Physical items that are produced and purchased to satisfy the wants and needs of consumers.

Sales Era

A period in the history of marketing thought, roughly from the 1920s to the 1950s, characterized by a focus on the aggressive selling of products to consumers.