Question

Unit sales for new product ABC have varied in the first seven months of this year as follows:

Month	Jan	Feb	Mar	Apr	May	Jun	Jul
Unit Sales	432	168	192	417	272	386	410

What is the interquartile range (IQR) of the data?

Please specify your answer as an integer.

Note: Use the following formula to find quartile locations:

Lq=(n+1)⋅(q4)Lq=(n+1)⋅(q4)

where q is the quartile index (e.g., q=1 for the first quartile) and n is the number of data points.

Excel's QUARTILE (and PERCENTILE) function uses a different method to compute quartile boundaries.

Answer 1

Solution:-

Given that

Unit sales for new product ABC have varied in the first seven months of this year as follows:

Month	Jan	Feb	Mar	Apr	May	Jun	Jul
Unit Sales	432	168	192	417	272	386	410

What is the interquartile range (IQR) of the data?

Sorted data values as follows

168

192 Q1 = 192

272

386 median = Q2 = 386

410

417 Q3 = 417

432

Interquartile range (IQR) is,

IQR = Q3 - Q1

= 417 - 192

IQR = 225

Therefore the interquartile range (IQR) of the data is 225.

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