Statistics and Economic Policies Quiz

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Questions and Answers

What is the correct formula for calculating Q1 in a dataset?

Q1 = (3n + 1) / 4
Q1 = (n / 4)
Q1 = (n + 1) / 4 (correct)
Q1 = (n + 3) / 4

How many families are represented in the income data provided?

64 (correct)
70
50
60

What is the cumulative frequency for the 'No. of Students' at marks 40?

75
60 (correct)
50
70

What is the value of D7 in the profit data?

<p>48 (D)</p> Signup and view all the answers

Which of the following represents P15 for the marks range provided?

<p>10 (A)</p> Signup and view all the answers

Flashcards

What is the first quartile (Q1) in statistics?

The first quartile (Q1) is the value that divides the data into two parts, with 25% of the data below it and 75% above it. You can calculate it using the formula: Q1 = (n + 1)/4

What is the third quartile (Q3) in statistics?

The third quartile (Q3) is the value that divides the data into two parts, with 75% of the data below it and 25% above it. Calculate it using the formula: Q3 = 3(n + 1)/4

What is cumulative frequency?

The cumulative frequency is the total number of items in the data set that have a value equal to or less than a given value. In the last value it represents the total number of items in the data.

What is D4?

Deciles divide a dataset into 10 equal parts. D4 is the value that separates the lowest 40% of the data from the highest 60% of the data.

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What is P35?

Percentiles divide a dataset into 100 equal parts. P35 is the value that separates the lowest 35% of the data from the highest 65% of the data.

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Study Notes

Question 1

Calculate Q1, D4, and P26 for the data: 18, 24, 45, 29, 4, 7, 28, 49, 16, 26, 25, 12, 10, 9, 8
Calculate Q3, D5, and P35 for the income data (in lakhs) with the number of families.