6 Questions
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?
Median
Which measure is used to quantify the amount of variation or dispersion of a set of values?
Coefficient of variation
Which measure is most affected by extreme values in a data set?
Mean
Test your knowledge of managerial statistics by answering questions about measures of central tendency, including resistance to extreme values, mode calculation, and coefficient of variation.
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