Provide an appropriate response.
-The annual profits of five large corporations in a certain area are given below. Which measure of central tendency should be used $$\begin{array} { l l l l l }
\$ 152,000 & \$ 160,000 & \$ 180,000 & \$ 150,000 & \$ 1,230,000
\end{array}$$
A) median
B) mean
C) mode
D) midrange

Question

Provide an appropriate response.
-The annual profits of five large corporations in a certain area are given below. Which measure of central tendency should be used $$\begin{array} { l l l l l } 
\$ 152,000 & \$ 160,000 & \$ 180,000 & \$ 150,000 & \$ 1,230,000
\end{array}$$
A) median
B) mean
C) mode
D) midrange

Quizplus · Accepted Answer

The median is the most appropriate measure of central tendency in this case because the data includes an outlier ($1,230,000), which would significantly skew the mean. The median, being the middle value when the data is ordered, is not affected by extreme values.

Provide an Appropriate Response $152,000$160,000$180,000$150,000$1,230,000\begin{array} { l l l l l } \$ 152,000 & \$ 160,000 & \$ 180,000 & \$ 150,000 & \$ 1,230,000\end{array}$152,000​$160,000​$180,000​$150,000​$1,230,000​

Provide an Appropriate Response $\begin{array} { l l l l l } \$ 152,000 & \$ 160,000 & \$ 180,000 & \$ 150,000 & \$ 1,230,000\end{array}$