For a dataset with an outlier, the median is preferred over the mean because the median is: MCQ with Answer and Explanation

For a dataset with an outlier, the median is preferred over the mean because the median is:
A. Always an integer
B. Less sensitive to extreme values
C. Easier to calculate
D. Based on all observations
Answer: Option B
Solution (By JKExamLibrary)
The median depends only on the middle observation(s) in ordered data, making it robust to outliers that can disproportionately influence the mean's value.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1 Report Error
Which of the following statements about tabulation is correct?
A. Tabulation presents data in rows and columns for easy comparison.
B. Tabulation is the first step of data collection.
C. Tabulation is the process of grouping data into classes.
D. Tabulation eliminates the need for classification.

Correct Answer: Option A


Explanation:
Tabulation is the systematic arrangement of data in a table with rows and columns.

This question belongs to: Accountancy and Statistics Statistics
Question #2 Report Error
The sum of squares of deviations from the mean is:
A. Equal to the variance
B. Maximum
C. Zero
D. Minimum

Correct Answer: Option D


Explanation:
The sum of squared deviations from the mean is minimum; from any other point it would be larger.

This question belongs to: Accountancy and Statistics Statistics
Question #3 Report Error
If P(A)=0.4, P(B)=0.5, and P(A∩B)=0.2, then P(A'∩B') is:
A. 0.3
B. 0.5
C. 0.7
D. 0.1

Correct Answer: Option A


Explanation:
P(A∪B)=0.4+0.5-0.2=0.7. P(A'∩B')=1-0.7=0.3.

This question belongs to: Accountancy and Statistics Statistics