A Question in a Market Survey Asks for a Respondent's

question 31

Multiple Choice

A question in a market survey asks for a respondent's favorite car color. Which measure of central location should be used to summarize this question?

• A)Mode
• B)Median
• C)Mean
• D)Standard deviation

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Definitions:

Unique Items

Objects or products that are distinct and not identical to any other items, often valued for their exclusivity or rarity.

Small Quantities

Small quantities refer to a less than usual or bulk amount of any material, product, or substance, often required in specific contexts like testing or sample production.

Robo-advisors

Automated platforms that provide financial advice or investment management online with minimal human intervention, using algorithms and software to optimize clients' assets.

Algorithms

Step-by-step procedures or formulas for solving a problem or performing a task.