Answer :
The dataset quartile three value for restaurant #1 in terms of tips on 163 meals is $6.72. option b
To find the quartile three value for the dataset representing tips on 163 meals at restaurant #1, we first need to arrange the tip amounts in ascending order:
1. Arrange the tip amounts in ascending order:
$X_1, $X_2, $X_3, ..., $X_163
2. Calculate the position of quartile three using the formula:
Position of Quartile Three = (3/4) × (163 + 1) = (3/4) × 164 = 123
3. Locate the tip amount corresponding to the 123rd position in the sorted dataset:
Now, we locate the 123rd tip amount in the sorted dataset.
4. Determine the quartile three value (Q3):
Q3 = T_123
5. Substitute the position 123 into the sorted dataset to identify the tip amount corresponding to this position, which represents the quartile three value.
Hence, Q3 = T_123
After following these steps, we'll find the quartile three value for the dataset representing tips on 163 meals at restaurant #1. This value indicates the tip amount that separates the lower 75% of the data from the top 25%.option b
Complete Question:
What is the dataset quartile three value for restaurant #1 in terms of tips on 163 meals?
a) $6.72
b) $163
c) 163 meals
d) Quartile three
In a bustling restaurant, the manager reviews the performance metrics for the evening. Among them, one dataset catches their attention—the tips earned on 163 meals served at table #1. As they delve into the dataset, seeking insights into the distribution of tips, they focus on quartile three, aiming to understand the tipping behavior of their patrons. This quartile, representing the 75th percentile of tip amounts, provides crucial information about the generosity of the majority of customers. With this insight, the manager can tailor strategies to enhance customer satisfaction and optimize revenue generation.
