State with reasons whether you agree or disagree with the following statement: Median is also known as second quartile. - Economics

QUESTION

State with reasons whether you agree or disagree with the following statement:

Median is also known as the second quartile.

Options

• Agree

• Disagree

True or False

MCQ

SOLUTION

Yes, I agree with this statement.

Reasons :

1. The Median divides data into two equal parts.
2. Quartile divides data into four equal parts.
3. Thus, the value of the median is equal to the value of the second quartile.

Therefore, the median is also known as the second quartile.