The sum of deviations of all values from the median is minimized when measured in: MCQ with Answer and Explanation

The sum of deviations of all values from the median is minimized when measured in:
A. Cubed deviations
B. Relative deviations
C. Squared deviations
D. Absolute deviations
Answer: Option D
Solution (By JKExamLibrary)
Median minimizes sum of absolute deviations.

This question belongs to: Accountancy and Statistics Statistics

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