Refer to the data of Exercise 3.109 on the current annual incomes (in thousands of dollars) of

Question:

Refer to the data of Exercise 3.109 on the current annual incomes (in thousands of dollars) of the 10 members of the class of 2004 of the Metro Business College who were voted most likely to succeed.

a. Determine the values of the three quartiles and the interquartile range. Where does the value of 74 fall in relation to these quartiles?
b. Calculate the (approximate) value of the 70th percentile. Give a brief interpretation of this percentile.
c. Find the percentile rank of 97. Give a brief interpretation of this percentile rank.