Here Are Some Summary Statistics for the Size of Forest $\text { mean } = 451$

question 81

Multiple Choice

Here are some summary statistics for the size of forest fires last year: smallest fire = 74 acres, $\text { mean } = 451$ acres, $\text { median } = 451$ acres, $\text { range } = 7926$ acres, $\mathrm { IQR } = 387$ $Q 1 = 180 ,$ standard deviation = 61 acres.Is the distribution symmetric,skewed to the left,or skewed to the right? Explain.

• A)Skewed to the right; mean higher than median.
• B)Symmetric; mean same as median.
• C)Skewed to the left; mean higher than median.
• D)Skewed to the right; mean lower than median.
• E)Skewed to the left; mean lower than median.

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Definitions:

LIFO Method

An inventory valuation method that stands for "Last In, First Out," assuming that the most recently produced items are sold first.

Cost of Goods Sold

The immediate financial costs tied to the manufacture of goods a company sells, including labor and materials.

Merchandise Inventory

Goods or products that a company holds for the purpose of selling to customers in the ordinary course of business.

Damaged Goods

Items that are physically harmed and are reduced in value, typically making them unsellable at full price.