Annual sales, in millions of dollars, for 21 pharmaceutical companies follow. 8408 1374 1872 8879 2459 11413 608 14138 6452 1850 2818 1356 10498 7478 4019 4341 739 2127 3653 5794 8305 a. Provide a five-number summary. b. Compute the lower and upper limits. c. Do the data contain any outliers?

Amari Flowers

Amari Flowers

Answered question

2021-01-04

Annual sales, in millions of dollars, for 21 pharmaceutical companies follow.
8408 1374 1872 8879 2459 11413

608 14138 6452 1850 2818 1356
10498 7478 4019 4341 739 2127
3653 5794 8305
a. Provide a five-number summary.
b. Compute the lower and upper limits.
c. Do the data contain any outliers?

Answer & Explanation

falhiblesw

falhiblesw

Skilled2021-01-05Added 97 answers

The lowest value, median, Quartile-3, and maximum value in any data collection are all represented by the five-number summary.
When the data are sorted in ascending order, the median is the middle value. The median and middle value of the data distribution is known as the Quartile-1. The midway value of the highest value and median of the data distribution is known as the quartile-3.
Calculation: 
The lowest value of the data distribution is 608 and highest value is 14138. 
The median is the middle value of the data when arranged in ascending order which is 11th value 
Median=4019 
First quartile is average of 5th and 6th values 
Quartile−1=1850+18722=1861 
Third Quartile is average of 16th and 17th values 
Quartile−3=8305+84042=8354.5 
Conclusion: 
The five number summary for annual sales of 21 pharmaceutical companies is 608, 1861, 4019, 8354.5, 14138. 
(b)Concept Used: 
The formula for boundaries of outliers are, 
Lower Boundary=Q1−1.5*IQR 
Upper Boundary=Q3+1.5*IQR 
The difference between third quartile and first quartile is Inter Quartile range. 
Calculation: 
Substituting the values in Inter quartile range formula, 
Inter Quartile​​​ Range=Q3−Q1=8354.5−1861=6493.5 
Substituting in the boundaries of outliers formula, 
Lower Boundary=Q1−1.5*IQR=1861−1.5*6493.5=−7880.25 
Upper Boundary=Q3+1.5*IQR 
=8354.5+1.5*6493.5=18094.75 
Conclusion: 
For 21 pharmaceutical businesses, the lowest and upper bounds for outliers of annual sales are -7880.25 and 18094.75, respectively. (b) For 21 pharmaceutical firms, the lowest and upper ranges for outliers of annual sales are -7880.25 and 18094.75, respectively. The bounds of outliers encompass all of the data points in the provided data. As a result, we may conclude that the data contains no outliers.

Jeffrey Jordon

Jeffrey Jordon

Expert2021-10-07Added 2605 answers

a)

Minimum: The minimum value is 608.

First Quartile: The first quartile is middle value of the data below the median, in the other words , value at the 25% of the sorted data array.

Q1=0.2521=5.256Q1=1872

The percentile is not integer, in that case round up and read the value at the given place in the sorted array.

Median:Median is middle value of the sorted data array. In this case, there is odd number of data given, so the median is the middle value.

Median=Q2=4019

Third Quartile: The third quartile is middle value of the data above the median, in the other words , value at the 75% of the sorted data array.

Q3=0.7521=15.7516Q3=8305

The percentile is not integer, in that case round up and read the value at the given place in the sorted array.

Maximum: The maximum value is 14138.

b)

To determine lower and upper limits, first find the interquartile range. IQR is the difference between third and first quartile.

IQR=Q3Q1=83051872=6433

Lower limit is the first quartile value decreased by 1.5 times the IQR.

Lower Limit=18721.56433=7777.5

Upper limit is the third quartile value increased by 1.5 times the IQR.

Upper Limit=8305+1.56433=17954.5

c)

The data does not cointain any outliers because there is no value that is below the lower limit nor above the upper limit.

Jazz Frenia

Jazz Frenia

Skilled2023-06-19Added 106 answers

Step 1: a. The five-number summary consists of the minimum, first quartile (Q1), median (Q2), third quartile (Q3), and maximum values.
- Minimum (Min): 608
- First Quartile (Q1): 1872
- Median (Q2): 3653
- Third Quartile (Q3): 7398
- Maximum (Max): 14138
Step 2: b. The lower and upper limits can be calculated using the interquartile range (IQR). The lower limit is given by Q11.5×IQR, and the upper limit is given by Q3+1.5×IQR.
First, we need to calculate the IQR: IQR=Q3Q1=73981872=5526.
Then, the lower limit is Q11.5×IQR=18721.5×5526=6453 (rounded to the nearest whole number).
The upper limit is Q3+1.5×IQR=7398+1.5×5526=19677 (rounded to the nearest whole number).
Step 3: c. To determine if the data contain any outliers, we can compare the individual data points to the lower and upper limits calculated in part (b).
The data points that are less than the lower limit (-6453) or greater than the upper limit (19677) can be considered outliers.
In this case, there are no data points that fall outside the calculated limits, so there are no outliers in the given data.
Andre BalkonE

Andre BalkonE

Skilled2023-06-19Added 110 answers

a. To provide a five-number summary for the given data, we need to calculate the minimum, first quartile (Q1), median (Q2), third quartile (Q3), and maximum values.
The given data set is: 8408,1374,1872,8879,2459,11413,608,14138,6452,1850,2818,1356,10498,7478,4019,4341,739,2127,3653,5794,8305
First, we need to sort the data in ascending order: 608,739,1356,1374,1850,1872,2127,2459,2818,3653,4019,4341,5794,6452,7478,8305,8408,8879,10498,11413,14138
The five-number summary can be calculated as follows:
1. Minimum: The smallest value in the data set is 608.
2. Q1: The median of the lower half of the data set. In this case, it is the median of the first 10 values: Q1=1850.
3. Q2 (Median): The median of the entire data set. It is the middle value if the number of data points is odd, or the average of the two middle values if the number of data points is even. In this case, since we have 21 data points, the median is the average of the 11th and 12th values: Q2=3653+40192=3836.
4. Q3: The median of the upper half of the data set. In this case, it is the median of the last 10 values: Q3=8305.
5. Maximum: The largest value in the data set is 14138.
Therefore, the five-number summary is: Minimum = 608, Q1 = 1850, Q2 = 3836, Q3 = 8305, Maximum = 14138.
b. To compute the lower and upper limits, we can use the interquartile range (IQR). The lower limit is given by Q11.5×IQR, and the upper limit is given by Q3+1.5×IQR.
The IQR can be calculated as: IQR=Q3Q1=83051850=6455.
Therefore, the lower limit is: 18501.5×6455=8830, and the upper limit is: 8305+1.5×6455=18935.
Hence, the lower limit is 8830, and the upper limit is 18935.
c. To determine if the data contain any outliers, we can compare each data point to the lower and upper limits.
Checking each value against the limits, we find that none of the data points fall below the lower limit or exceed the upper limit. Therefore, there are no outliers in the given data set.

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