Which of the Following Statements Is True of the Measures

question 16

Multiple Choice

Which of the following statements is true of the measures of variability?

• A) Low variability indicates that the observations are located farther from the mean.
• B) Two data sets can have the same number of observations and the same mean, median, and mode but have different variability.
• C) Like the mean, the variance and standard deviation have the advantage of considering select observations in the data set.
• D) Compared to the standard deviation, the variance is more easily interpreted because it is stated in terms of basic units.

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Definitions:

Controllable Margin

A financial metric that reflects the amount of profit a business can potentially control or influence directly, typically by managing costs or increasing sales.

Costs

Expenses incurred in the process of producing or acquiring goods and services.

Volume

The quantity or amount of something, often used in context with sales volume or production volume.