Explanation Given: The first 10 stock volumes are 241 1400 2900 2600 2500 7300 1800 411 2900 2300 Calculation: To find the five number summary i.e. the minimum value, lower quartile ( Q 1 ), median ( Q 2 ), upper quartile ( Q 3 ) and the maximum value of the distributions rewrite the annual revenue of the company in ascending order: i 1 2 3 4 5 6 7 8 9 10 x i 241 411 1400 1800 2300 2500 2600 2900 2900 7300 Therefore, the minimum and maximum value of the distributions are 241 and 7300 respectively and the number of entries n = 10 For the lower quartile will be ( 0.25 n ) th data of the distributions consider 0.25 n = 0.25 × 10 = 2.5 ≈ 3 Therefore the lower quartile will be the 3 rd entry of the distributions hence Q 1 = 1400 As the number of entries n = 10 is even number hence the median of the distributions Q 2 = 1 2 {

Pearson eText for Mathematics with Applications In the Management, Natural, and Social Sciences -- Instant Access (Pearson+)

12th Edition

ISBN: 9780137504381

Author: Margaret Lial, Thomas Hungerford

Publisher: PEARSON+

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Chapter 10, Problem 8RE

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The five-number summary for first 10 stock volumes.

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Chapter 10, Problem 7RE

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Pearson eText for Mathematics with Applications In the Management, Natural, and Social Sciences -- Instant Access (Pearson+)

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The five-number summary for first 10 stock volumes.

Solution Summary: The author explains how to determine the five-number summary for first 10 stock volumes. They rewrite the annual revenue of the company in ascending order.

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Chapter 10 Solutions