Normalization of Data Involves

question 32

Multiple Choice

Normalization of data involves

• A) expressing each variable on a common, standardized scale
• B) subtracting the grand mean from each observation
• C) dividing each observation by total variance
• D) dividing each observation by average range

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Definitions:

Normative Question

A question that addresses how things should be rather than how they are, often involving subjective judgments and values.

Tax Base

The total amount of assets or income that can be taxed by a government, serving as a critical source of fiscal revenue.

Assets

Resources owned by a business or individual that have economic value and can be converted into cash.

Liabilities

Financial obligations or debts that an entity owes to another party, which must be settled over time through the transfer of economic benefits.