Which One of the Following Would Be an Appropriate Measure

question 4

Multiple Choice

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

• A) Mean
• B) Median
• C) Correlation
• D) Mode

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Definitions:

Compounded Monthly

This refers to the calculation and addition of interest to the principal sum of a loan or deposit on a monthly basis.

Equal Monthly Payments

Fixed payments made every month, as in a loan or mortgage, ensuring that the loan is paid off over a specified period.

Compounded Monthly

A method where interest earnings are calculated and added to the principal amount each month, allowing the interest to then earn interest in subsequent months.

Compounded Semi-annually

A method of calculating interest where the earned interest is added to the principal balance twice a year, affecting the total interest earned over time.