The company financial officer was interested in the average cost of PCs that had been purchased in the past six months.A random sample of the price of 10 computers was taken with the following results;$3,250,$1,127,$2,995,$3,250,$3,445,$3,449,$1,482,$6,120,$3,009,$4,000 What is the first quartile?
A)$1,446.5
B)$2,617
C)$3,415.75
D)$3,587
E)$4,212

Question

Quizplus · Accepted Answer

The first quartile (Q1) is the median of the first half of the data set. When the prices are ordered from least to greatest, the first quartile is the average of the 2nd and 3rd values: ($1,482 + $3,009) / 2 = $2,617.

The Company Financial Officer Was Interested in the Average Cost