Here Are Summary Statistics of the Four Last Digits of Social

question 117

Multiple Choice

Here are summary statistics of the four last digits of social security number of 500 customers,corresponding to the following histogram. $$\begin{array}{l}\begin{array} { l | l } \text { Count } & 500 \\\hline \text { Mean } & 4919 \\\hline \text { StdDev } & 1556 \\\hline \text { Median } & 5009 \\\hline \text { IQR } & 2009 \\\hline \text { Q1 } & 4018 \\\hline \text { Q3 } & 6027\end{array}\\\end{array}$$
Is the mean or median a "better" summary of the centre of the distribution?

• A)Neither,because these are not categorical data.
• B)Neither,because these are not quantitative data.
• C)Median,because the IQR is smaller than the standard deviation.
• D)Mean,because the distribution is quite symmetric.
• E)Median,because of the outliers.

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Definitions:

Annuities Due

Annuities Due refer to a series of equal payments made at the beginning of consecutive periods over a fixed length of time, often used in finance to represent contracts that require such payments.

Ordinary Annuities

Ordinary annuities are a series of equal payments made at the end of consecutive periods over a fixed length of time.

Perpetuity

A financial term referring to a security or form of investment that pays an infinite series of cash flows with no end date.

Endowment Fund

A financial asset, in the form of donations, made to non-profit organizations that uses the generated income for a specific purpose.