The Following Data Represent the Weights (In Kilograms) of a Sample

question 81

Essay

The following data represent the weights (in kilograms) of a sample of 30 horses: Weight
$$\begin{array} { l } 165 \\175 \\150 \\155 \\173 \\149 \\145 \\153 \\153 \\153 \\152 \\145 \\164 \\143 \\170 \\175 \\148 \\174 \\171 \\156 \\166 \\168 \\152 \\150 \\173 \\168 \\146 \\155 \\172 \\159\end{array}$$ Compute the range and interquartile range of the data.

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Definitions:

Social Security System

A government program that provides financial assistance to people with inadequate or no income, especially the elderly and disabled.

Highest-Valued Alternative

The best next option forgone as a result of making a particular decision, often related to the concept of opportunity cost.

Production Possibilities Curve

A curve that outlines all possible combinations of total output that could be produced, assuming (1) a fixed amount of productive resources, (2) a given amount of technical knowledge, and (3) full and efficient use of those resources. The slope of the curve indicates the amount of one product that must be given up to produce more of the other.

Economic Organization

The structured systems and institutions through which economic activity is conducted and regulated, including markets, firms, and government agencies.