Question

The amount of money that college students spend on rent each month is usually between $300 and $600. However, there are a few students who spend $1,300. What measure of spread would be most appropriate to measure the amount of money that college students spend on rent per month?

Answer 1

Inter quartile range.

Explanation:

We have been given that the amount of money that college students spend on rent each month is usually between $300 and $600. However, there are a few students who spend $1,300.

We know that range, interquartile range, variance and standard deviation are the measures of spread.

Since $1300 is large valued outlier as mostly students spend between $300 and $600, so mean of our given data set will be grater than median and our given data is skewed to right.

Since range, variance and standard deviation are not good measure of spread for skewed data, therefore, inter-quartile range would be the most appropriate to measure the amount of money that college students spend on rent per month.