What Terms Refer to Each of the Following Measures,respectively: Mean,median,and

question 27

Multiple Choice

What terms refer to each of the following measures,respectively: mean,median,and mode.

• A)middle,most,and average
• B)average,middle,and most
• C)average,most,and middle
• D)most,average,and middle

---

Definitions:

Effective Cost

Effective cost refers to the total cost of a financing option when all charges, fees, and interest payments are taken into account.

Annual Rate

The interest rate for a period of one year, often used to compare the yields of different investment and financing options.

ABC System

A system of controlling inventory that recognizes the differing cost and importance of various items. A parts are expensive and/or important and are controlled carefully. C parts are cheap and plentiful, so little effort is expended to monitor them. B parts are between As and Cs.

Inventory Management

The oversight of non-capitalized assets (inventory) and stock items, involving the control of ordering, storing, and using a company's inventory.