Rank the Measures of Dispersion in Terms of Their Relative

question 6

Multiple Choice

Rank the measures of dispersion in terms of their relative ease of interpretation from least to most.

• A) Mode, median, mean
• B) Range, mean deviation, variance
• C) Variance, mean deviation, range
• D) There is no difference

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Definitions:

Overpriced Warranties

Service contracts sold at a price significantly higher than the expected cost of repairs, often yielding high profit margins for sellers.

Behavioral Economics

A field of economics that studies how psychological, social, cognitive, and emotional factors affect economic decisions of individuals and institutions.

Large-Screen TVs

Televisions with significantly larger displays than standard units, offering enhanced viewing experiences.

Fairness

The quality of treating people equally or in a way that is right and reasonable, without favoritism or bias.