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The third quartile and 65th percentile for the following data are Profits in '000 : les than 10 10-19 20-29 30-39 No. of firms: 5 18 38 20 40-49 9 50-59 2?
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The third quartile and 65th percentile for the following data are Prof...
Calculation of Third Quartile and 65th Percentile for Profit Data
Data
- Less than 10: 5 firms
- 10-19: 18 firms
- 20-29: 38 firms
- 30-39: 20 firms
- 40-49: 9 firms
- 50-59: 2 firms
Step 1: Arrange Data in Ascending Order
We need to arrange the data in ascending order to calculate the quartiles and percentiles.
- Less than 10: 5 firms
- 10-19: 18 firms
- 20-29: 38 firms
- 30-39: 20 firms
- 40-49: 9 firms
- 50-59: 2 firms
Step 2: Calculate Quartiles
The third quartile, denoted by Q3, is the value below which 75% of the data falls. To calculate Q3:
- Find the total number of firms: 5 + 18 + 38 + 20 + 9 + 2 = 92
- Calculate 75% of the total number of firms: 0.75 x 92 = 69
- Starting from the smallest value, count the number of firms until you reach the 69th firm. The value corresponding to that firm is the third quartile.
- In this case, the third quartile falls in the 40-49 range. So, Q3 = 49
Step 3: Calculate Percentiles
The 65th percentile is the value below which 65% of the data falls. To calculate the 65th percentile:
- Find the total number of firms: 5 + 18 + 38 + 20 + 9 + 2 = 92
- Calculate 65% of the total number of firms: 0.65 x 92 = 59.8
- Starting from the smallest value, count the number of firms until you reach the 60th firm. The value corresponding to that firm is the 65th percentile.
- In this case, the 65th percentile falls in the 40-49 range. So, the 65th percentile = 49
Conclusion
The third quartile for the profit data is 49 and the 65th percentile is also 49.
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The third quartile and 65th percentile for the following data are Profits in '000 : les than 10 10-19 20-29 30-39 No. of firms: 5 18 38 20 40-49 9 50-59 2?
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The third quartile and 65th percentile for the following data are Profits in '000 : les than 10 10-19 20-29 30-39 No. of firms: 5 18 38 20 40-49 9 50-59 2? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The third quartile and 65th percentile for the following data are Profits in '000 : les than 10 10-19 20-29 30-39 No. of firms: 5 18 38 20 40-49 9 50-59 2? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The third quartile and 65th percentile for the following data are Profits in '000 : les than 10 10-19 20-29 30-39 No. of firms: 5 18 38 20 40-49 9 50-59 2?.
The third quartile and 65th percentile for the following data are Profits in '000 : les than 10 10-19 20-29 30-39 No. of firms: 5 18 38 20 40-49 9 50-59 2? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The third quartile and 65th percentile for the following data are Profits in '000 : les than 10 10-19 20-29 30-39 No. of firms: 5 18 38 20 40-49 9 50-59 2? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The third quartile and 65th percentile for the following data are Profits in '000 : les than 10 10-19 20-29 30-39 No. of firms: 5 18 38 20 40-49 9 50-59 2?.
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