The following histogram and boxplot summarize the distribution of income for 1,000 households in Colorado. (a) Estimate the mean and median. How do you know that the mean is larger than the median for...

The following histogram and boxplot summarize the distribution of income for 1,000 households in Colorado.

(a) Estimate the mean and median. How do you know that the mean is larger than the median for this distribution?

(b) Estimate the interquartile range from the figure.

(c) Which is larger, the IQR or the SD? (Hint: These data are very skewed.)

(d) How would the figure change if income were expressed in thousands of dollars rather than in dollars?