Question

. Which measure of central tendency would be most useful in each of the
following instances?
(a) The production manager for a manufacturer of glass jars, who is concerned
about the proper jar size to manufacture, has sample data on jar sizes
ordered by customers. Would the mean, median, or modal jar size be of
most value to the manager?
(b) The sales manager for a quality furniture manufacturer is interested in
selecting the region’s most likely to purchase his firm’s products. Would he
be most interested in the mean or median of family income in prospective
sales areas?
(c) A security analyst is interested in describing the daily market price change of
the common stock of a manufacturing company. Rarely the market price of
the stock changes by more than one point, but occasionally the price will
change by as many as four points in one day. Should the security analyst
describe the daily price change of the stock in terms of mean, median, or
mode of the daily market price change?

Answer 1

Option a c

may be d

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