(I If Two Sets of Data Are in Different Units

question 128

Multiple Choice

(i. If two sets of data are in different units, we can compare the dispersion by using coefficient of variation. (ii) A sample of the homes currently offered for sale revealed that the mean asking price is $75,900, the median $70,100 and the modal price is $67,200. The standard deviation of the distribution is $5,900. The Pearson's coefficient of skewness is 2.95
(iii) The coefficient of variation is a measure of central tendency.

• 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.

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Definitions:

Corn Laws

A series of laws in the 19th century Britain that imposed restrictions and tariffs on imported grain to protect domestic grain producers.

Imports

Goods and services bought by a country from another country, contributing to international trade.

Exports

Goods or services provided by one country to another in exchange for foreign currency, contributing to a country's economic health.

Absolute Advantage

The ability of an individual, company, or country to produce a good or service at a lower cost per unit than the cost at which any other entity produces that good or service.