Question

Cork price: 16 10 15 10 17 11 14 13 11 14 11 16 18 16 10 17 14 14 16 7 10 12 19 15 16 14 9 12 21 13 10 16 12 16 13 17 17 13 14 18 11 12 15 16 13 18 16 17 12 12 14 9 11 14 19 13 11 17 11 13 15 14 18 18 18 12 10 11 13 14 11 14 18 13 13 19 17 14 17 17 18 19 21 12 15 16 15 10 10 17 12 14 16 12 13 17 17 13 15 12 14 16 15 15 15 12 18 13 12 15 10 13 11 16 14 10 15 14 15 12 16 11 17 16 10 15 11 19 15 20

Metal price: 13 12 16 5 7 8 6 10 11 9 6 16 15 15 9 17 6 10 11 7 8 11 22 21 11 6 11 10 17 12 13 11 16 18 12 11 11 8 8 18 5 5 9 10 9 14 8 9 8 7 6 12 12 15 19 4 6 15 9 5 15 9 8 6 7 5 12 4 16 15 6 11 17 7 5 16 13 12 17 17 9 19 19 2 15 5 13 7 11 15 14 9 10 11 6 19 19 10 7 9 10 18 15 16 8 11 13 14 11 7 7 5 7 15 13 6 17 12 12 15 9 13 21 17 5 17 12 14 14 13

QUESTION: FIRST QUARTILE OF THE CORK PRICE , SECOND QUARTILE OF THE CORK PRICE, THIRTH QUARTILE OF THE CORK PRICE, INTERQUARTILE RANGE OF THE CORK PRICE

Answer 1

Cork Price

Total 130 Observations

Question:

First Quartile of the Cork Price:

First Data arrange in Ascending order.

Then we find out Quartile..

Q_k = size of {k * (n+1)/4}^th item.

Q₁ = size of {1 * (130+1)/4}^th item.

Q₁ = size of {32.75}^th item.

Q₁ = size of {32}^th item + 0.75 * (size of 33^th item - size of 32^th item)

Q₁ = 12 + 0.75 * (12 - 12)

Q₁ = 12

Second Quartile = Median

Q₂= Median = Average of Two Middle values of Ordered data

Here, Middle values are:14 & 14

So, Q₂ = (14+14) / 2 = 14

Third Quartile (Q₃):

Q_k = size of {k * (n+1)/4}^th item.

Q₃ = size of {3 * (130+1)/4}^th item.

Q₃ = size of {98.25}^th item.

Q₃ = size of {98}^th item + 0.25 * (size of 99^th item - size of 98^th item)

Q₃ = 16 + 0.25 * (16 - 16)

Q₃= 16

Inter Quartile Range of the Cork Price = Q₃ - Q₁

Inter Quartile Range of the Cork Price = 16 - 12

Inter Quartile Range of the Cork Price = 4