Jake is applying for an IT position at a local tech company. There are currently

Question

Jake is applying for an IT position at a local tech company. There are currently 5 people in that company. Of these 5 employees, 4 salaries range between $50K and $60K; these salaries slightly differ based on level of experience (but they are otherwise similar). One employee is a clear outlier - the 5th employee makes $85K because she happens to be the CEO's daughter and gets obvious preferential treatment. Which measure of variability should Jake compute? Remember, you can choose more than one answer here. Selected Answers Standard deviation Semi-interquartile range Interquartile range Standard deviation Semi-interquartile range Interquartile range Range

Explanation / Answer

Since outliers are there, the calculation of standard deviation and range involves outliers, which is not correct measure of variability.

But inter quartile range and semi-quartile range does not have outliers or extremes in their formulas, hence these are preferred metrics of calculation to look for measue of variability in this particular case scenario

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