Which One of the Following Would Be an Appropriate Measure

question 37

Multiple Choice

Which one of the following would be an appropriate measure of central tendency to summarize interval data?

• A) Mean
• B) Median
• C) Mode
• D) Mean,median,or mode would be appropriate.

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Definitions:

Positive Externality

A benefit that is enjoyed by a third-party resulting from an economic transaction to which they were not involved.

Public Good

A product or service that is non-excludable and non-rivalrous, meaning it can be consumed by multiple people without diminishing its availability to others.

Common Resource

A resource that is nonexcludable but rival in consumption.

Nonexcludable

A characteristic of a good or service that prevents people from being excluded from using it, often leading to challenges in private market provision.