A Statistic That Gives the "Center" or Average of a Distribution

question 44

Multiple Choice

A statistic that gives the "center" or average of a distribution is known as the

• A) mean.
• B) mode.
• C) deviation.
• D) frequency.
• E) X2 value.

---

Definitions:

Commodity X

A placeholder term typically used to represent any generic good or service in economic models and discussions.

Demand Equation

A mathematical representation of the relationship between the demand for a good and its price, often also considering other determinants of demand.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, leading to market equilibrium.

Complement

A good or service that is used together with another good or service, increasing the value of both.