Define the three measures of central tendency described in this chapter. Explain how to determine each for a given dataset.
What will be an ideal response?
The mean is the arithmetic average of the data. To calculate, add all values together and divide by the sample size. The median is the middlemost value in a variable. When the sample size is odd, order the values in ascending order and determine the middlemost value. When the sample size is even, order the values in ascending order and determine the two middlemost values; then take an average of those two numbers. The mode is the most common value in a variable. To determine the mode, count how many times each value appears in your variable. Whichever appears the most often is the mode.
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Fish sperm is composed mostly of DNA. If we tested a sample chemically, we should find relatively high amounts of
A. nitrogenous bases, sugar, and phosphate groups. B. triglycerides and ATP. C. amino acids and unsaturated fats. D. globular proteins and stored fats. E. phospholipids and steroids.
Each product will have a life cycle, although its exact shape and length is not known in advance. Briefly explain each phase of the product life cycle
What will be an ideal response?
Cost savings is considered a key driver for outsourcing by most companies
Indicate whether the statement is true or false a. True b. False
Which of the following best defines insurance??
A) ?It is a contract whereby a party transfers his right to receive interest to a third-party such as an agent B) ?It is a contract whereby a party transfers a risk of physical injury to the risk bearer for a fee. C) ?It is a contract whereby a party transfers his right to a claim for a particular fee. D) ?It is a contract whereby a party transfers a risk of financial loss to a risk bearer for a fee.