The company financial officer was interested in the average cost of PCs that had been purchased in the past six months.A random sample of the price of 10 computers was taken with the following results;$3,250,$1,127,$2,995,$3,250,$3,445,$3,449,$1,482,$6,120,$3,009,$4,000 What are the inner fences?
A)1455,2910
B)4072,5042
C)5527,6497
D)1162,5042
E)-293,6497

Question

Quizplus · Accepted Answer

The inner fences are calculated using the interquartile range (IQR). First, find the first quartile (Q1) and third quartile (Q3) of the data. Then, calculate the IQR as Q3 - Q1. The inner fences are Q1 - 1.5*IQR and Q3 + 1.5*IQR.

The Company Financial Officer Was Interested in the Average Cost