(I If a Distribution Is Highly Skewed, the Median (Measure

question 133

Multiple Choice

(i. If a distribution is highly skewed, the median (measure of central tendency) should be avoided. (ii) A characteristic of the population is called a parameter
(iii) A sample revealed that the ages of musicians playing in small local combos are 36, 29, 37, 32, 36 and 75. The median is the most appropriate measure of central tendency to represent the ages of the musicians.

• A) (i), (ii) and (iii) are all correct statements
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements, but not (i).
• E) (i), (ii) and (iii) are all false statements.

---

Definitions:

Direct Materials

Raw materials that are directly traceable to the manufacturing of a product and constitute a significant portion of the production cost.

Direct Materials

Raw materials that can be directly traced back to the production of specific goods or services.

Standard Costs

Predetermined costs of manufacturing a single unit or a number of units during a specific period under normal conditions.

Expected Price

The anticipated market price of a good, service, or asset, often based on historical trends, current market conditions, and future forecasts.