CFA Level 1: Welfare Payments Range

Calculate the Range of Weekly Welfare Payments

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Question

The following are the weekly amounts of welfare payments made by the federal government to a sample of six families: $139, $136, $130, $136, $147 and $136.

What is the range?

Answers

Explanations

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A. B. C. D. E.

D

Range = 147 - 130 = 17

To find the range, we need to determine the difference between the highest and lowest values in the given set of numbers. Let's arrange the weekly welfare payment amounts in ascending order:

$130, $136, $136, $136, $139, $147

The lowest value is $130, and the highest value is $147. To calculate the range, we subtract the lowest value from the highest value:

Range = Highest Value - Lowest Value Range = $147 - $130 Range = $17

Therefore, the range of the weekly welfare payments is $17.

The correct answer is D. $17.