The Following Five-Number Summary for a Sample of Size 500

question 7

True/False

The following five-number summary for a sample of size 500 were obtained: Minimum = 250, and Maximum = 4,950. Based on this information, if you were to construct a box and whisker plot, the value 215 is considered an outlier.

---

Definitions:

Organizational Buyers

Businesses or entities that purchase goods and services for their own use, for production, or for resale to others.

Raw Materials

The basic substances or components that are processed or refined to create finished goods or products.

Manufacturers

Companies or entities that make goods through a process involving raw materials, components, or assemblies, usually on a large scale.

Organizational Buyers

Entities such as companies, governments, and institutions that purchase goods or services for purposes other than personal consumption, often involving more complex processes and larger transactions than individual consumers.