For 13 house prices Q1 is 308,750, Q3 is 649,000 and 1.5 times the IQR is 510,375. Which price is flagged as a potential outlier?

1. The lower fence is the first quartile minus 1.5 times the interquartile range. 2. That gives 308,750 minus 510,375, which is minus 201,625 dollars, and no price is negative. 3. The upper fence is the third quartile plus 1.5 times the interquartile range. 4. That gives 649,000 plus 510,375, which is 1,159,375 dollars. 5. Only 5,500,000 dollars lies above that fence, so only that price is a potential outlier. 6. The price 1,095,000 dollars sits below the upper fence and 114,950 dollars sits above the lower one, so neither is flagged. _Source: OpenStax Introductory Business Statistics (CC BY 4.0), Ch 2 "Descriptive Statistics", section 2.2 Measures of the Location of the Data_