Mean and Percentiles Are Concepts Used in _____ to Describe

question 15

Multiple Choice

Mean and percentiles are concepts used in _____ to describe data.

• A) geometry
• B) statistics
• C) databases
• D) organizations

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Definitions:

Explicit Costs

Direct, out-of-pocket expenses incurred in the operation of a business or the execution of a transaction.

Production

The process or method of creating goods and services through the combination of labor, materials, and technology.

Fixed Inputs

Resources in production that remain constant in quantity regardless of the level of output or activity.

Variable Inputs

Resources used in production that vary with the level of output, such as raw materials.