11
QuizMultiple Choice

Expenses Data — Quiz

Question 11 • Financial Math

Oliver and Samantha observed that the range in their dining out expenses was $90. The standard deviation was $30, and the IQR was $40. Based on these measures of spread, which of the following statements is true?

Answer
A
Oliver and Samantha's dining expenses fluctuate by exactly $30 every time they dine out. - no response given
B
Oliver and Samantha's dining out expenses typically vary around the mean with an average deviation of $30. - not selected, this is the correct answer
C
They always spend $90 when dining out. - incorrect
D
The average amount Oliver and Samantha spend on dining out is $90. - no response given

Explanation

Standard deviation describes how much data values typically vary around the mean. A standard deviation of $30 means their dining expenses typically vary around the mean by about $30; it does not mean every expense differs by exactly $30. The $90 range is the difference between the highest and lowest expenses, not the average amount spent.

AI-written and checked against the verified answer.

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