Given the Following Data Compute the Mean Absolute Deviation

question 82

Multiple Choice

Given the following data Compute the mean absolute deviation.

• A)60
• B)-10
• C)10
• D)16.7

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Definitions:

Income Elasticity

A measure of how much the demand for a good will change in response to a change in consumer's income.

Cross Elasticity

An indicator of the sensitivity in demand for a certain product in response to price fluctuations of a different product.

Percentage Change

A mathematical calculation that shows how much a number has increased or decreased compared to its previous value, expressed as a percentage.

Complementary Goods

Goods and services that are used together; when the price of one falls, the demand for the other rises (and conversely).