The Statistic in Which You Add a Group of Scores

question 107

Multiple Choice

The statistic in which you add a group of scores together and then divide by the number of those scores is called the

• A) median.
• B) mean.
• C) mode.
• D) variance.

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Definitions:

Mean Rate

The average value of a set of rates, which could be interest rates, growth rates, or any other type of change measured over time.

Expected Utility

A theory or calculation that aims at finding the utility expected from an uncertain prospect by considering all possible outcomes, their probabilities, and their respective utilities.

Standard Deviation

A statistical measurement that represents the dispersion or variability of a set of data points or values from the mean.

Mean

A measure of central tendency in statistics, calculated by dividing the sum of all values in a set by the number of values.