Question

In: Economics

A business has 10 employees. Their annual wages (to the nearest thousands of dollars) are as...

A business has 10 employees. Their annual wages (to the nearest thousands of dollars) are as follows:

42, 33, 27, 47, 60, 36, 45, 66, 47, 31

A. Calculate the following, showing all calculations:

mean

median

mode

range

Variance

Standard Deviation

Coefficient of variation

B. Assume that the data values shown above represent "x". Compute the following:

1. (∑x)^2

2. ∑x^2

C. What would change in part A if the numbers represented a sample?

Expert Solution

C. Median will be affected if the observations represent a sample.

Rahul Sunny answered 1 hour ago

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