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Turnips are an inferior good. If nothing else changes, a rise in the price of turnips causes
First Quartile
The value below which 25% of the observations fall, marking the lower quarter of the data set.
Median
The middle value in a sorted list of numbers, dividing the dataset into two halves.
Third Quartile
A statistical term which represents the 75th percentile of a dataset, indicating that 75% of the data points fall below this value.
Box Plot
A graphical representation of data that shows the distribution's five-number summary: minimum, first quartile, median, third quartile, and maximum.
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