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For a Distribution with One or Two Extreme Scores,the Median

question 17

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For a distribution with one or two extreme scores,the median is usually a more representative value than the mean.​

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Definitions:

Material Variances

The difference between the actual cost of materials used in production and the standard cost of materials that should have been used.

Quantity Variance

The difference between the expected and actual quantity of materials or labor used in a production process.

Price Variance

Price variance is the difference between the actual price paid for something and its expected price, affecting the budget for materials or expenses.

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