Question

Asked Feb 3, 2019

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Step 1

**Obtain the first quartile for the data of gold reserves for a recent year for 11 world countries.**

The total number of observations in the data set of gold reserves for a recent year for 11 world countries is *n *= 11*.*

The general procedure to obtain first quartile is,

- Arrange the data in ascending order.
- Obtain the value of
*c*= (*n*/4)*.* - If the value of
*c*is not a whole number, then round the value of*c*to the next whole number. The*c*^{th}term in the ordered dataset is the first quartile of the dataset. - If the value of
*c*is a whole number, then the first quartile is the average of*c*^{th}and (*c*+1)^{th}term in the ordered data set.

The data set of gold reserves for a recent year for 11 world countries is arranged in ascending order as follows:

10, 17.9, 19.7, 24.6, 33.3, 33.4, 33.9, 78.3, 78.8, 108.9 and 261.5

The first quartile for the data of gold reserves for a recent year for 11 world countries is obtained as 19.7 million troy ounces from the calculation given below:

Step 2

The general procedure to obtain third quartile is,

- Arrange the data in ascending order.
- Obtain the value of
*c*= (3*n*/4)*.* - If the value of
*c*is not a whole number, then round the value of*c*to the next whole number. The*c*^{th}term in the ordered dataset is the third quartile of the dataset. - If the value of
*c*is a whole number, then the third quartile is the average of*c*^{th}and (*c*+1)^{th}term in the ordered data set.

The third quartile for the data of gold reserves for a recent year for 11 world countries is obtained as 78.8 million troy ounces from the calculation given below:

Step 3

**Obtain the inert quartile range for the data of gold reserves for a recent year for 11 world countries.**

The first quartile for the data of gold reserves for a recent year for 11 world countries is 19.7 million troy ounces.

The third quartile for the data of gold reserves for a recent year for 11 ...

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