Discuss the below:
You are interested in the incomes of your corporate customers. A sample of your customer's incomes yields the following distribution of incomes: $100,000, $200,000, $200,000, $300,000, $300,000, $300,000, $400,000, $400,000, and $500,000.
Q1) What is the appropriate measure of central tendency and why?
Q2) What is the appropriate measure of central tendency if in addition to the above scores, you obtained salaries of $500,000 and $600,000 and why?
Q3) What measurement of central tendency is most appropriate if you want to measure gender and why?
Q4) What measure of central tendency is most sensitive to skewness and which is least sensitive?
Q5) What is the difference between the variance and standard deviation of a distribution?