Answer:
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Step-by-step explanation:
What is the main purpose of closing entries for revenues and expenses into Profit and Loss Summary? a. To determine the profit f
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The measures of spread include the range, quartiles and the interquartile range, variance and standard deviation. Let's consider each one by one.
<u>Interquartile Range: </u>
Given the Data -> First Quartile = 2, Third Quartile = 5
Interquartile Range = 5 - 2 = 3
<u>Range:</u> 8 - 1 = 7
<u>Variance: </u>
We start by determining the mean,
n = number of numbers in the set
Solving for the sum of squares is a long process, so I will skip over that portion and go right into solving for the variance.
5.3
<u>Standard Deviation</u>
We take the square root of the variance,
2.3
If you are not familiar with variance and standard deviation, just leave it.