Question
Which of the following statements about the mean,
median, and mode is true when applied to a dataset with a skewed distribution?Solution
In a skewed distribution, the mean is heavily influenced by outliers or extreme values. For example, in a positively skewed distribution (right-skewed), where the tail is extended to the right, the mean will be greater than the median because the extreme high values push the mean to the right. The median, however, represents the middle value and is less affected by the extreme values, making it a more reliable measure of central tendency in skewed data. Therefore, the median is often preferred in the presence of outliers and skewness. The mode, while useful in some cases, does not always represent the center in skewed data and can sometimes be non-representative. Why Other Options Are Incorrect: • A: The mean, median, and mode are not equal in a skewed distribution. This occurs only in symmetric distributions like the normal distribution. • B: In a positively skewed distribution, the mean is greater than the median, not less. • C: While the mode represents the most frequent value, it is not always the most reliable measure of central tendency, particularly in skewed distributions. • E: The mode does not necessarily have to be greater than the median in skewed distributions.
A listed company did not appoint a woman director on its Board. During audit, you find non-compliance continuing for 6 months. What is implication?
In insurance accounting, what is "unearned premium"?
A company has issued non-convertible debentures. Which of the following is true?
The term ‘Previous year’ is defined under which section of Income Tax Act?
Which of the following is not a member ministry in the National Board for MSMEs?
From the following data calculate abnormal gain to be debited to process account.
Input introduced in process 1 = 2000 units
Output = 1900...
Goods worth Rs.100,000 taken by the owner for his personal use should be credited to:
A supply comprising of two or more supplies shall be treated as the supply of that particular supply that attracts the highest rate of tax.
_______ are denominated in GBP (Great Britain Pound) and issued in London. Issue proceeds can be used to fund UK operation.
Section 126 of the Indian Contract Act refers to: