Answer:
YES. It is income; the figures make sense.
Explanation:
RANGE is the distance or difference between the highest value and the lowest value.
In this case, the variable is Household Income and the minimum value for the dataset is 4 while the maximum value is 1,620,560.
The question says: "Does this make sense to you?"
YES it does. It simply means that out of all the observed households, one household had a total income of 4 units (e.g. dollars) within the time period e.g. a day, a week, or a year.
On the other extreme, another household had approximately 1.6 million units of income in the same time frame.
This goes to show a wide income parity among the subjects observed in this experiment. Since 4 is the lowest value in the dataset, it shouldn't be shocking. You only need to exercise surprise if 4 is the mean or median value of the data set!
