Variation Is to Central Tendency as Range Is to

question 23

Multiple Choice

Variation is to central tendency as range is to

• A) mode.
• B) bar graph.
• C) median.
• D) skewed.

---

Definitions:

Opportunity Costs

The penalty of bypassing the next most advantageous option when a decision is made.

Small Business

A privately owned corporation, partnership, or sole proprietorship that has fewer employees and less annual revenue than a medium or large company.

Risk-Free

Refers to an investment that is considered to have no risk of financial loss.

Perfectly Competitive Market

A market structure characterized by a large number of small firms, homogeneity of products, free entry and exit, and perfect information, leading to firms being price takers.