The Mean,median,and Mode Are Applicable To

question 97

Multiple Choice

The mean,median,and mode are applicable to:

• A)continuous variables only
• B)discrete variables only
• C)continuous and discrete variables
• D)interval and ratio level variables only

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Definitions:

Input

Resources used in the production process, including labor, materials, and capital.

Production Function

A production function describes the relationship between inputs utilized in production and the output generated from those inputs.

Returns To Scale

The rate at which production output increases as a result of a proportional increase in all inputs (labor, capital, etc.).

Input

The resources, materials, or energy used in the production process to generate output.