The Coefficient of Variation Indicates How Large the Standard Deviation

question 13

Multiple Choice

The coefficient of variation indicates how large the standard deviation is relative to the​

• A) ​mean.
• B) ​median.
• C) ​range.
• D) ​variance.

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Definitions:

Demand Equation

A mathematical representation of the relationship between the quantity of a good consumers are willing and able to buy and the good's price.

Supply Equation

An economic formula that represents the relationship between the quantity of a good supplied by producers and the price of the good.

Price Floor

A minimum price set by the government for certain goods and services, intended to prevent prices from dropping too low.

Shortage/Surplus

A situation in the market where the amount of a product that consumers want to buy is greater than the amount available (resulting in a shortage), or the available amount is more than what consumers want to purchase (leading to a surplus).