18
QuizMultiple Choice

Financial Statistics and Research — Test

Question 18 • Advanced Financial Algebra

Kassandra observed that the range in her monthly grocery bills was $⁢150 The standard deviation was $⁢45 , and the IQR was $⁢65 Based on these measures of spread, which of the following statements is true?

Answer
A
Half of the months, Kassandra had grocery expenses that differed by 150 dollars.
B
The middle 50 percent of the months, Kassandra's expenses varied by 65 dollars.
C
Kassandra's average monthly grocery bill was 150 dollars.
D
Kassandra's monthly grocery expenses vary by exactly 45 dollars each month.

Explanation

The interquartile range (IQR) describes the spread of the middle 50% of the data. Since Kassandra’s IQR is $65, her grocery expenses in the middle half of the months varied across a range of $65. The range of $150 is the difference between the highest and lowest bills, and the standard deviation of $45 does not mean bills differ by exactly $45 each month.

AI-written and checked against the verified answer.

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