Question

What scale is used to measure 40 students checking accounts? What kind of variable 40 students checking account?

What are the limits for outliers?

Answer 1

1. it is ratio scale because here 0 represents no balance and also operations like addtions,subtraction ,multiplication and division can be done on it.

2. (as complete question in not mentioned So in what sense type of variable is required to be judged as it may be independent,dependent or controlled variable)

Quantitative variable: A broad category that includes any variable that can be counted, or has a numerical value associated with it. Examples of variables that fall into this category include discrete variables and ratio variables

A measurement variable has a number associated with it. It’s an “amount” of something, or a”number” of something.

3. an outlieris an extremely high, or extremely low value. We determine extreme by being 1.5 times the interquartile range above Q3 or below Q1.

A point that falls outside the data set's inner fences is classified as a minor outlier, while one that falls outside the outer fences is classified as a major outlier. To find the inner fences for your data set, first, multiply the interquartile range by 1.5. Then, add the result to Q3 and subtract it from Q1.