JAMB - Economics (2013 - No. 5)
Which of the following set of statistical tools is used for further economic analysis?
the median and standard deviation
the mean and mode
the mean and standard deviation
the mode and median
Wyjaśnienie
The mean is useful for predicting future results when there are no extreme values in the data set. Standard deviation is a number used to tell how measurements for a group are spread out from the average (mean), or expected value