More and more universities are facing cutbacks in state funding. Asa result , there is considerable fund raising being done through alumni and specific college entities. A random sample of 16 finacial gifts given to a university is chosen for 2008. The data ( in thousands of dollars) is shown below:
1.0, 3.0 , 5.7, 3.0 , 0.3 , 0.3 , 1.6, 8.8
1.0 , 0.8 , 0.5 , 2.4 , 2.4 , 4.5 , 3.6 , 3.2
1) Determine the sample interquartile rang (IQR)?
2) Determine the upper fence and lower fence for the dataset ?
3) Is the observation 8.8 an outlier. Use Z- score to answer this question?