BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mean
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Median
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Mode
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Range
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Detailed explanation-1: -The range is the simplest measure of variability to compute. The standard deviation can be an effective tool for teachers.
Detailed explanation-2: -The most common measures of variability are the range, the interquartile range (IQR), variance, and standard deviation. The range is the difference between the largest and smallest values in a set of values.
Detailed explanation-3: -Variability is most commonly measured with the following descriptive statistics: Range: the difference between the highest and lowest values. Interquartile range: the range of the middle half of a distribution. Standard deviation: average distance from the mean.
Detailed explanation-4: -The standard deviation is the most commonly used and the most important measure of variability. Standard deviation uses the mean of the distribution as a reference point and measures variability by considering the distance between each score and the mean.