Which of the Following Is True of the Mode

question 43

Multiple Choice

Which of the following is true of the mode?

• A) It is especially useful as a measure for data that have been somehow grouped into categories.
• B) It is the distance between the smallest and largest values in a set of responses.
• C) It is the arithmetic average of a sample.
• D) It is the middle value of a rank-ordered distribution.
• E) It is unaffected by data values being added or deleted.

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Definitions:

Vertical Analysis

A method of financial statement analysis in which each entry for each of the three major categories of accounts (assets, liabilities, and equities) in a balance sheet is represented as a proportion of the total account.

Base Amount

A reference value or starting point used for financial calculations, such as determining percentages or comparisons.

General-purpose Financial Statements

These are standardized financial reports prepared by organizations to provide key financial data to stakeholders such as income statements, balance sheets, and cash flow statements.

Income Statement

An income statement is a financial report that shows a company's revenues, expenses, and profits over a specific period.