I just want to know if a question asks something like this Using 500 observations, the following five-point summary was obtained for a variable. EX: with any numbers on table a

asking this Interpret Q1 and Q3. Calculate the interquartile range. Determine whether any outliers exist. Is the distribution symmetric? If not, comment on its skewness.

How will I be able to solve a problem like this

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SolutionLets take with Example:-Considen the following five point summary that Was oblained from a data set with 500 observation.(a) Is the value of the 1 st quartile i.e the value below which 25% of the observation lie.Also. Q_(3) is the value of the 3 rd quartile i.e the value below which 75% of the obser - vation lie(b) The IQR given by IQR=Q_(3)-Q_(1)=550-200=350A value is said to be an outlier if it is eithen less thanQ_(1)-1.5 IQR=200-1.5(350)=-325=-325 or greten thanQ3 +1.5 IQR=550+1.5(350)=1075Now, since the ... See the full answer