whs mathematics of personal finance t1 expenses data calculating range and iqr weekly expenses paola tracked…

whs mathematics of personal finance t1 expenses data calculating range and iqr weekly expenses paola tracked her expenses every day for a week and constructed a box - plot of her data. what is the range of paolas weekly expenses? what is the interquartile range (iqr) of paolas weekly expenses?

whs mathematics of personal finance t1 expenses data calculating range and iqr weekly expenses paola tracked her expenses every day for a week and constructed a box - plot of her data. what is the range of paolas weekly expenses? what is the interquartile range (iqr) of paolas weekly expenses?

Answer

Explanation:

Step1: Recall range formula

Range = Maximum - Minimum

Step2: Identify maximum and minimum from box - plot

From the box - plot, the minimum value of weekly expenses is 10 and the maximum value is 20. Range = 20 - 10 = 10

Step3: Recall IQR formula

IQR = Q3 - Q1 (where Q3 is the third - quartile and Q1 is the first - quartile)

Step4: Identify Q1 and Q3 from box - plot

Q1 is the lower edge of the box, which is 14. Q3 is the upper edge of the box, which is 16. IQR = 16 - 14 = 2

Answer:

The range of Paola's weekly expenses is 10. The inter - quartile range (IQR) of Paola's weekly expenses is 2.