Question

an individual stock is selected at random from the portfolio represented by the box - and - whisker plot shown to the right. find the probability that the stock price is (a) less than $22, (b) between $22 and $57, and (c) $34 or more.
(a) the probability that the stock price is less than $22 is \square (do not round.)

Explanation:

Step1: Recall the property of box - and - whisker plot and probability formula

In a box - and - whisker plot, the data is divided into four equal parts (quartiles). The probability \(P\) of an event is given by \(P=\frac{\text{Number of favorable outcomes}}{\text{Total number of outcomes}}\). Since the box - and - whisker plot divides the data into four equal parts (each part represents \(25\%\) or \(\frac{1}{4}\) of the data).

Step2: Analyze the position of \(22\)

The value \(22\) is the first quartile (\(Q_1\)). The data to the left of \(Q_1\) represents \(25\%\) of the data.

Answer:

0.25