Question

Consider the following types of data that were obtained from a random sample of 49 credit card accounts. Identify all the averages (mean, median, or mode) that can be used to summarize the data. (Select all that apply.)
(a) Outstanding balance on each account.

A. mode

B. median

C. mean

Answer 1

Answer:

All options( option A, option B and option C)

Step-by-step explanation:

Mean, median and mode are used to summarize the data. Mode can be calculated for both quantitative and qualitative data but mean and median cannot be calculated for qualitative data.

Here outstanding balance on each account represents quantitative data and mode, median and mean all can summarize the quantitative data. So, mean, median and mode each can be used to summarize the data of outstanding balance on each account.