In: Statistics and Probability
Listed below are the top 10 annual salaries (in millions of dollars) of TV personalities. Find the range, variance, and standard deviation for the sample data. Given that these are the top 10 salaries, do we know anything about the variation of salaries of TV personalities in general?
40 38 36 29 17 14 11 10 9.6 8.4
Range :
= Maximum - Minimum
= 40 - 8.4
=31.6
variance? :
standard deviation :
standard deviation = sqrt (168.0911)
= 12.965
Because the sample values are the 10? highest, they give almost no information about the salaries of TV personalities in general .