Theresa is considering a 7/23 balloon mortgage with an interest rate of 4.5%
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The mean, median, standard deviation, and interquartile range for each data set is given below.
<h3>What is the definition of Interquartile Range (IQR)?</h3>When arranged from lowest to highest, the IQR represents the central 50% of values.
Find the median (middle value) of the lower and higher half of the data to get the interquartile range (IQR).
These are the quartile 1 (Q1) and quartile 3 (Q3) values (Q3). The difference between Q3 and Q1 is the IQR.
<h3>What are the measures of central tendency for Manuels Data?</h3>Using the statistical tool, the following were arrived at:
- Standard Deviation = 3.13961
- Mean = 8
- Median = 8
- IQR = Q3-Q1 = 10 - 6 = 4
Using the statistical tool, the following were arrived at:
- Standard Deviation = 4.68737.
- Mean = 9.6
- Median = 9
- IQR = IQR = Q3-Q1 = 12 - 7 = 5.
See the respective Histograms attached.
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