A graphical summary of data developed from quartiles is known as what?

Prepare for the Advanced Business Analytics Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

The graphical summary of data developed from quartiles is best represented by a box and whisker chart. This type of chart is specifically designed to display the distribution of a dataset based on five summary statistics known as the five-number summary: the minimum, first quartile (Q1), median (Q2), third quartile (Q3), and maximum. The box in the chart represents the interquartile range (IQR), which is the distance between the first and third quartiles, effectively illustrating where the middle 50% of the data lies. The “whiskers” extend from the box to the minimum and maximum values, providing a visual representation of the data's spread.

Using a box and whisker chart allows viewers to quickly see key aspects of the data, such as its central tendency and variability, as well as potential outliers that may lie beyond the whiskers. This makes it a powerful tool for summarizing large data sets in a concise manner.

In contrast, pie charts provide a visual comparison of parts to a whole, scatter plots display the relationship between two continuous variables, and histograms show the distribution of a single continuous variable across intervals. None of these alternatives convey the quartile-based summary of data as effectively as a

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