Which Statement About Calculating Quartiles Is NOT True

question 9

Multiple Choice

Which statement about calculating quartiles is NOT true?

• A) All the data values in a set lie within 1 quartile distribution of the median
• B) In a simple frequency distribution, the quartiles are easily calculated
• C) Quartiles can only be estimated for a grouped frequency distribution
• D) The graphical method for estimating quartiles in a grouped frequency distribution is preferred

---

Definitions:

Equilibrium Value

The price and quantity at which the supply of an item equals the demand for that item, achieving a balance in the market.

Marginal Product

The additional output that is produced as a result of utilizing one more unit of a variable input, holding other inputs constant.

Equilibrium Quantity

The level of goods or services offered and demanded at the price of equilibrium.

Labor

The effort involving both mental and physical capacities of humans utilized in creating goods and services.