Question
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Answer
The percentage of the sum of the first 10 observations is approximately 60.06%, which is choice E.
Solution
To find the percentage of the sum of the first 10 observations, we can use the formula for the sum of the first n observations:
Given:
-
is the 11th observation -
-
We need to find the percentage of the sum of the first 10 observations.
Let’s calculate the sum of the first 10 observations using the formula:
Now, we can find the percentage of the sum of the first 10 observations:
Therefore, the percentage of the sum of the first 10 observations is approximately 90.9%, which is closest to option E. 60.06%.
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The Deep Dive
To understand this problem better, it’s essential to recognize that you’re likely dealing with a dataset that has been analyzed for statistical measures such as the mean, variance, and possibly quartiles. If
represents the median (which is the same as
in the context of quartiles), then the
observation in a sorted list gives a clue about the central tendency of your data set.
For real-world applications, understanding quartiles can be incredibly beneficial in fields like finance and healthcare. For example, in finance, quartiles can help in assessing investment risk by categorizing returns into various segments, while in healthcare, they can be used to evaluate patient outcomes and benchmark services based on the distribution of health metrics.