COST ACCOUNTING
TRANSFER PRICING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Q1 (Lower Quartile)
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Q2 (Median)
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Q3 ( Upper Quartile)
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Q4 (Max Quartile)
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Detailed explanation-1: -Q2 (the median) is the 50th percentile and shows that 50% of the scores are less than 75, and 50% of the scores are above 75.
Detailed explanation-2: -Quartiles are a type of quantile. First quartile: Also known as Q1, or the lower quartile. Second quartile: Also known as Q2, or the median. Third quartile: Also known as Q3, or the upper quartile.
Detailed explanation-3: -The median is considered the second quartile (Q2). The interquartile range is the difference between upper and lower quartiles. The semi-interquartile range is half the interquartile range. When the data set is small, it is simple to identify the values of quartiles.
Detailed explanation-4: -When there are outliers in a sample, the median and interquartile range are used to summarize a typical value and the variability in the sample, respectively.