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Which measure of dispersion is widely used in fields like economics and business?
  • a)
    Range
  • b)
    Quartile deviation
  • c)
    Mean deviation
  • d)
    Standard deviation
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Which measure of dispersion is widely used in fields like economics an...
Standard deviation is widely used in fields like economics and business because it provides a precise measure of dispersion and is less susceptible to sampling fluctuations compared to other measures.
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Which measure of dispersion is widely used in fields like economics and business?a)Rangeb)Quartile deviationc)Mean deviationd)Standard deviationCorrect answer is option 'D'. Can you explain this answer?
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