Exhibit 10.2 the Following Questions Are Based on the Problem Description and Description

question 53

Multiple Choice

Exhibit 10.2
The following questions are based on the problem description and the output below.
A college admissions officer wants to evaluate graduate school applicants based on their GMAT scores, verbal and quantitative. Students are classified as either successful (Group 1) , marginally successful (Group 2) or not-successful (Group 3) in their graduate studies. The officer has data on 20 current students, 7 successful (Group 1) , 6 marginally successful (Group 2) and 7 not successful (Group 3) . ​ ​ ​ ​
-Refer to Exhibit 10.2. What is the verbal test score value of the group centroid for group 3?

• A) 697.71
• B) 647.86
• C) 587.67
• D) 605.17

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Definitions:

Division of Labor

The assignment of different parts of a manufacturing process or task to different people in order to improve efficiency.

Labor Markets

The supply of available workers in relation to available work, and the dynamics of wages, employment, and labor demand.

Unskilled Workers

Individuals who perform jobs that require limited or no specialized skills or training.

Workers Specialize

When workers focus on a narrow set of tasks or acquire specialized skills, leading to increased efficiency and productivity.