Which of the Following Would Be an Appropriate Measure of Central

question 69

Multiple Choice

Which of the following would be an appropriate measure of central tendency to summarize data on a nominal scale?

• A)Mean
• B)Median
• C)Mode
• D)Standard deviation

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Definitions:

Exchange Rate

The rate at which one currency can be exchanged for another currency, affecting international trade and investments.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, resulting in a net income or loss.

Temporal Method

An exchange rate conversion method used in translating foreign currency financial statements, where monetary items are converted at the current exchange rate and non-monetary items at historical rates.

Net Realizable Value

The estimated selling price in the regular course of business minus any costs of completion, disposal, and transportation.