Data on the amount of money made in a year by 1000 families in a small town were collected. You want to know the difference in the amount of money made in that year by the middle 50% of the 1000 families. Which of the following would you compute?
A) arithmetic mean
B) median
C) interquartile range
D) coefficient of correlation

Question

Quizplus · Accepted Answer

The interquartile range (IQR) identifies the difference between the 75th percentile (Q3) and the 25th percentile (Q1) of a dataset. This means that the middle 50% of the dataset falls within this range, making it the appropriate measure for finding the difference in income for the middle 50% of the 1000 families in the town. The arithmetic mean and coefficient of correlation would not identify this range specifically, and the median only considers the middle value of the dataset rather than the middle 50%.

Data on the Amount of Money Made in a Year