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 1,000 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) measures the spread of the middle 50% of a dataset, which makes it the appropriate choice in this scenario. The arithmetic mean and coefficient of correlation are measures of central tendency and association, respectively, and the median only represents the middle individual value, not the spread.

Data on the Amount of Money Made in a Year