Which of the Following Is True of the Median

question 30

Multiple Choice

Which of the following is True of the median?

• A) It cannot be determined for data that are skewed to either the right or left.
• B) It is the distance between the smallest and largest values in a set of responses.
• C) It is the value that appears in a distribution most often.
• D) If the number of data observations is even, the median is generally considered to be the average of the first and last values.
• E) It is especially useful as a measure of central tendency for ordinal data.

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Definitions:

Operating Cycle

The average time period between purchasing or acquiring inventory and receiving cash from the sale of goods or services.

Balance Date

The specific date at which the financial position of a company is measured and reported, usually marking the end of the fiscal or reporting period.

Comprehensive Income

The total change in equity for a reporting period other than from transactions with owners as owners, including both net income and other comprehensive income.

AASB 101

An accounting standard issued by the Australian Accounting Standards Board that outlines the presentation of financial statements, ensuring relevance, reliability, comparability, and understandability.