Tag: interquartile range

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Questions Related to interquartile range

Multiple choice business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

The median of a symmetrical distribution, whose lower and upper quartiles are 60 and 80 respectively, is

  1. 60

  2. 80

  3. 70

  4. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Given,  lower quartile $=60$ and upper quartile $=80$ 
$\therefore$ median $=\frac{\mbox{
lower quartile
}+\mbox{
upper quartile
}}{2}=\dfrac{60+80}{2}=70$

Multiple choice business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

Which of the following are limitations of range?

  1. It is not based on all the values.

  2. As long as the minimum and maximum values remain unaltered, any change in other values does not affect range.

  3. It can not be calculated for open-ended frequency distribution.

  4. All of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The range is defined as the difference between the maximum and minimum values. It is limited because it ignores the distribution of intermediate values, is highly sensitive to outliers, and cannot be computed for open-ended distributions.

Multiple choice business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

Which of the following is true with respect to range?

  1. Higher value of Range implies higher dispersion and vice-versa

  2. Range is unduly affected by extreme values.

  3. It is not based on all the values.

  4. All of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Range is the difference between the maximum and minimum values. Because it only considers these two extremes, it is highly sensitive to outliers and does not account for the distribution of all data points.

Multiple choice business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

Which of the following is another term for quartile division?

  1. Inter quartile range

  2. Semi Inter Quartile Range

  3. Inter Quartile Deviation

  4. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Quartile deviation is defined as half of the interquartile range, which is why it is also known as the semi-interquartile range.

Multiple choice business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

Range =

  1. Largest value - Smallest value

  2. Largest value divided by 2

  3. Both A and B

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Range refers to the value of variation between the largest and the smallest values in a particular data set. It can be calculated as the difference between the upper limit and lower limit of a particular set of data.

Multiple choice business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

In a frequency distribution, Range is the difference between _________ and __________

  1. upper limit of the highest class, the lower limit of the lowest class

  2. lower limit of the highest class, the upper limit of the lowest class

  3. A or B

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

In a frequency distribution, the range is calculated as the difference between the upper limit of the highest class interval and the lower limit of the lowest class interval.

Multiple choice business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

The middle value of an ordered series is called _______.

  1. $2nd$ quartile
  2. $5th$ decile
  3. $50th$ percentile

  4. All the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The median divides an ordered series into two equal halves. The 2nd quartile (Q2), 5th decile (D5), and 50th percentile (P50) all represent this same middle point.

Multiple choice business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

The variate values which divide a series (frequency distribution) into $100$ equal parts are called ______.

  1. quintiles

  2. quartiles

  3. deciles

  4. percentiles
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Percentiles are values that divide a dataset into 100 equal parts, where each part represents 1% of the data.

Multiple choice business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

Which measure is based on only the central fifty percent of the observations?

  1. Standard deviation

  2. Quartile deviation

  3. Mean deviation

  4. All of above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Quartile deviation is based on the interquartile range (Q3 - Q1), which covers the middle 50% of the observations, effectively ignoring the extreme 25% at both ends.