The Union Bank of Switzerland conducts an international survey to obtain data on

Question

The Union Bank of Switzerland conducts an international survey to obtain data on the hourly wages of workers and employees around the world. Workers in LA ranked seventh in the world in terms of higher hourly wages. Assume the following 25 values are hourly wages of workers in LA:

Calculate the highest salary of 25% of workers who earn lower wages.
Select one:
A. Approximately 15.35
B. Approximately 8,425
C. Approximately 11,975
D. Approximately 11.83

11.5 9.20 15.35 8.00 9.80 11.90 11.75 12.05 14.70 7.05 13.10 6.85 10.25 5.85 13.10 8.40 9.15 11.10 13.65 9.05 9.90 10.05 8.45 13.15 6.65

Explanation / Answer

putting above data in ascending order

from above 25 th percentile =(n+1)/2 th value =6.5 th value =(8.4+8.45)/2 =8.425

hence option B is correct

X 5.85 6.65 6.85 7.05 8 8.4 8.45 9.05 9.15 9.2 9.8 9.9 10.05 10.25 11.1 11.5 11.75 11.9 12.05 13.1 13.1 13.15 13.65 14.7 15.35

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