Section D Section D Checkpoint
Problem 1
In a large city, the median rent paid monthly for an apartment is $2000 and the interquartile range (IQR) is $850. If you are planning to move to this city, what information does each of the values mean to you?
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Solution
Sample response: The median rent of $2000 means that half of apartments in the city cost at least $2000 per month and half cost less. The IQR of $850 means that the middle half of rents are within $850 of each other. This means that there is quite a lot of variability for apartments in this city. It tells me that I might be expected to pay about $2000 per month for an apartment, but, if I need to, I should be able to find a cheaper one without too much trouble.
Show Sample Response
Sample Response
Sample response: The median rent of $2000 means that half of apartments in the city cost at least $2000 per month and half cost less. The IQR of $850 means that the middle half of rents are within $850 of each other. This means that there is quite a lot of variability for apartments in this city. It tells me that I might be expected to pay about $2000 per month for an apartment, but, if I need to, I should be able to find a cheaper one without too much trouble.
Problem 2
A person who recently graduated from college is looking at the salaries for people who work for two different companies. The box plots summarize the information from each company.
Compare the distribution of pay from each company.
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Solution
Sample response: Both companies have the same median, so typical workers at the companies are paid similarly. The IQR for Company A is much less than at Company B, so there is more variability of salaries for the middle half of workers at Company B. The range of salaries at Company A is about $250,000 and only about $150,000 at Company B, so there may be more pay inequality at Company A.
Show Sample Response
Sample Response
Sample response: Both companies have the same median, so typical workers at the companies are paid similarly. The IQR for Company A is much less than at Company B, so there is more variability of salaries for the middle half of workers at Company B. The range of salaries at Company A is about $250,000 and only about $150,000 at Company B, so there may be more pay inequality at Company A.