The Advantage of Using the Interquartile Range Versus the Range

question 107

Multiple Choice

The advantage of using the interquartile range versus the range as a measure of variation is:

• A) it is easier to compute.
• B) it utilizes all the data in its computation.
• C) it gives a value that is closer to the true variation.
• D) it is less affected by extremes in the data.

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Definitions:

Amazon

A multinational technology company primarily known for its e-commerce platform, cloud computing services, digital streaming, and artificial intelligence.

Proprietary, On-premise

This term describes software that is owned by a specific company and is installed and runs on computers on the premises of the organization using the software, as opposed to being cloud-based.

VMI

Vendor Managed Inventory, a business model in which the supplier of goods, rather than the retailer, is responsible for managing and replenishing inventory.

Walmart And P&G

Two major corporations, Walmart, a retail giant, and Procter & Gamble (P&G), a multinational consumer goods company, known for their strategic partnerships and business relations.