Asked by Toronto Raptor on Jul 05, 2024
Verified
Here are the weekly winnings for several local poker players: $100,$50,$125,$75,$80,$60,$110,$150,$300,$700,$115,$75,$1000,$5000.Which is a better summary of the spread,the standard deviation or the IQR? Explain.
A) SD,because the distribution is symmetric.
B) Either,because the distribution is symmetric.
C) SD,because the distribution is skewed.
D) IQR,because the distribution is symmetric.
E) IQR,because the distribution is skewed.
IQR
Stands for Interquartile Range, a measure of statistical dispersion or variability based on dividing a data set into quartiles.
Standard Deviation
This statistic describes the spread of data points in a dataset relative to its mean, indicating how spread out the data is.
Skewed
A description of distribution that shows asymmetry in the sense that the tail is longer on one side than the other.
- Determine the fit of descriptive statistics for the purpose of summarizing data by its distribution.
Verified Answer
ZK
Zybrea KnightJul 06, 2024
Final Answer :
E
Explanation :
The distribution of weekly winnings is likely skewed due to the high values of $700, $1000, and $5000. As such, the IQR would be a better choice for summarizing the spread of the data as it is robust to outliers and skewed distributions. On the other hand, the standard deviation assumes a normal distribution, which is unlikely to be the case for these poker winnings.
Learning Objectives
- Determine the fit of descriptive statistics for the purpose of summarizing data by its distribution.