August 27, 2001
Data
were collected on the prices of new cars.The
prices shown are in thousands of dollars.The
distribution of prices is illustrated by the histogram below.The
5number summary for this data set is also given below.Use
this information to answer the following questions.


Max


Q3


Median


Q1


Min


a.For this distribution, the mean will be larger than the median.
b.Approximately 10 % of new cars cost between $20,000 and $24,000.
c.Fiftypercent of new cars cost less than $17,000 .
d._75 % of new cars cost more than $12,200.
e.Are there any outliers in this data set?If so, identify them.
f.Why would it be more appropriate to present the median and quartiles to describe the center and spread of this distribution rather than presenting the mean and standard deviation?