Which Descriptive Statistic Is Least Likely to Be Influenced by the Presence

question 135

Multiple Choice

Which descriptive statistic is least likely to be influenced by the presence of skewness?

• A)Standard deviation
• B)Mean
• C)Median
• D)Range

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Definitions:

Price Floor

A government-imposed minimum price charged on goods and services, aimed at preventing prices from going too low.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers.

Non Binding Price Floor

A non binding price floor is set below the market equilibrium price, having no effect on the market because it does not restrict supply or demand.

Explicit And Implicit Coercion

Refers to the overt and subtle ways in which individuals or groups may be forced or pressured into behaving in certain ways.