Why Is It Important to Report the Spread of the Data

question 10

Short Answer

Why is it important to report the spread of the data along with the central tendency when describing a data set?

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Definitions:

Margin Of Safety

The difference between actual sales and the breakeven point, indicating the amount by which sales can drop before losses begin.

Unit Selling Price

The price at which a single unit of a product is sold to customers.

Sales

The total amount of goods or services sold by a company, serving as a major component of its revenue.

Cost-volume-profit Analysis

A method used to determine how changes in costs and volume affect a company's operating income and net income.