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Suppose that the value of a stock varies each day from $9.82 to $24.17 with a uniform distribution.
Find the upper quartile; 25% of all days the stock is above what value? (Enter your answer to the nearest
cent.)

Suppose that the value of a stock varies each day from 982 to 2417 with a uniform distribution Find the upper quartile 25 of all days the stock is above what va class=

Respuesta :

Answer:

The upper quartile is 20.5825

Step-by-step explanation:

In order to find the upper quartile we would have to use the following formula:

According to the given data:

value of a stock varies each day from $9.82 to $24.17

Hence, Q=upper quartile,

Therefore, ($24.17 - Q)/($24.17 - $9.82) = 25%

($24.17 - Q)/$14.35=25%

$24.17 - Q=3.5875

Q=20.5825

The upper quartile is 20.5825

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