A manager has been asked to evaluate the risk of loss for a new business strategy. The manager plots the results of several simulated projections to determine the likelihood of a result being a loss. Which statistic will transform different data sets to the same scale so that the manager can compare the projections?

The median represents the middle value in a data set when arranged in ascending or descending order. While it provides a measure of central tendency, it does not standardize data across different sets or scales, making it unsuitable for comparing projections that may have different distributions or ranges.

The mode is the value that appears most frequently in a data set. Although it offers insight into the most common outcome, it does not address the variability or spread of the data, nor does it standardize different data sets for comparison, limiting its effectiveness in evaluating risk across multiple projections.

Variance measures the dispersion of data points around the mean in a single data set. While it is useful for understanding how spread out the values are, it does not facilitate direct comparison across different data sets, as it does not transform the data to a common scale like the Z-score does.