0. Using 500 observations, the following five-point summary was obtained for a variable. Min Q1 Median 200 300 Q3 125 a. Interpret Q1 and Q3. b. Calculate the interquartile range. Determine whether any outliers exist. c. Is the distribution symmetric? If not, comment on its skewness. 550 Max 1300

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20. Using 500 observations, the following five-point summary was obtained for a variable.
Min
125
Q1
200
Median
300
Q3
550
Max
1300
a. Interpret Q1 and Q3.
b. Calculate the interquartile range. Determine whether any outliers exist.
c. Is the distribution symmetric? If not, comment on its skewness.
Transcribed Image Text:20. Using 500 observations, the following five-point summary was obtained for a variable. Min 125 Q1 200 Median 300 Q3 550 Max 1300 a. Interpret Q1 and Q3. b. Calculate the interquartile range. Determine whether any outliers exist. c. Is the distribution symmetric? If not, comment on its skewness.
Expert Solution
Step 1: Given information:

The total number of observations is 500. 

The five-point summary for the variable is shown below:

MinQ2MedianQ3Max
1252003005501300



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