Annual Statement Studies reported the following figures for manufacturers of screw machine products for the ratio of current assets to current debt.The following figures are for a particular industry's current ratio: 1.6;1.3;1.2.Which best describes these three numbers?
A)One third of each of the companies experienced each of the ratios.
B)The average ratio was 1.3.The best firm had 1.6;The worst had 1.2.
C)The median was 1.3.1.6 is the figure for the upper quartile;1.2 is the figure for the lower quartile.
D)The median was 1.3.1.6 is the figure for the lower quartile;1.2 is the figure for the upper quartile.
E)None of the answers are correct.

Question

Quizplus · Accepted Answer

The median (middle value) of the three numbers is 1.3. The upper quartile (the value separating the top 25% from the rest of the data) is 1.6, and the lower quartile (the value separating the bottom 25% from the rest of the data) is 1.2. Therefore, the best choice is C.

Annual Statement Studies Reported the Following Figures for Manufacturers of Screw