As risk management officer at your firm, you are in charge of analyzing the data on personal injury claims filed against your firm. Some summary statistics for a random sample ofthe costs of 100 claims filed in the recent past are below.
Mean = $1,040.47 1st Quartile = $989.72
Median $1,039.71 3rd Quartile $1,088.18 .
Standard deviation = $89.50 !)o.:,
1. Which statement is correct?
The middle 50% ofthe costs are between $989.72 and $1,088.18."
