Which Describes an Outlier

question 43

Multiple Choice

Which describes an outlier?

• A) A data point with a value outside what is predicted by other data points
• B) Any data point far from the median point,but still within 2 standard deviations from the mean
• C) A study result that is directly attributable to randomness
• D) A study score from a subject lost to attrition after the study begins

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Definitions:

Total Profit

is the financial gain made by a business after subtracting all expenses, taxes, and costs associated with generating the revenue.

Profit Per Unit

The amount of profit generated by selling one unit of a product or service.

Profit Maximizing

The process or strategy employed by businesses to increase their profits to the highest possible level given their resources and constraints.

Total Revenue

The income generated by a company from the sale of its goods or services before any costs or expenses are subtracted.