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) Interquartile Range
B) median
C) arithmetic mean
D) covariance

Question

Quizplus · Accepted Answer

The interquartile range (IQR) represents the range of the middle 50% of the data, which is what is being asked for in the question. The median may give information about the center of the data, but it doesn't provide information about the spread or range within the middle 50%. The arithmetic mean and covariance are not appropriate measures for this type of analysis.

Data on the Amount of Money Made in a Year