The Most Appropriate Measure of Central Tendency for Nominal Data

question 75

Multiple Choice

The most appropriate measure of central tendency for nominal data is the ________.

• A) mean
• B) median
• C) standard deviation
• D) mode

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Definitions:

Nudging

A concept in behavioral economics wherein indirect suggestions and positive reinforcements influence behaviors and decision-making.

Behavioral Economics

A subset of economics that analyzes how psychological, social, cognitive, and emotional factors influence economic decisions of individuals and institutions.

Neoclassical Economists

Economists specializing in examining the allocation of goods, outputs, and how income is distributed within markets, driven by the dynamics of supply and demand.

Simplifying Assumptions

Theoretical conditions applied to models to make them more manageable and easier to understand, often by ignoring real-world complexity.