Managerial Statistics: Central Tendency and Coefficient of Variation
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Questions and Answers

What measure of central tendency is resistant to extreme values in a data set?

Median

What is the mode of a data set?

The most frequently occurring value

How is the coefficient of variation calculated?

It is calculated as the standard deviation divided by the mean, then multiplied by 100.

What is the best measure of central tendency to use when the data has extreme outliers?

<p>Median</p> Signup and view all the answers

Which measure is used to quantify the amount of variation or dispersion of a set of values?

<p>Coefficient of variation</p> Signup and view all the answers

Which measure is most affected by extreme values in a data set?

<p>Mean</p> Signup and view all the answers

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