Question
In: Statistics and Probability
A small accounting firm pays each of its seven clerks $55,000, three junior accountants $80,000 each,...
A small accounting firm pays each of its seven clerks $55,000,
three junior accountants $80,000 each, and the firm's owner
$630,000.
What is the mean salary paid at this firm? (Round your answer to
the nearest whole number.)
What is the median salary?
The firm gives no raises to the clerks and junior accountants, but
the owner is given a new salary of $860,000.
How does this change affect the mean? (Round your answer to the
nearest whole number.)
The mean increases by $ .
How does it affect the median?
The median increases by $ .
Solutions
Expert Solution
mean = sum of all terms / number of terms = 1255000/11 = 114090.909091
median = 55000
The median is the middle number in a sorted list of numbers. So, to find the median, we need to place the numbers in value order and find the middle number.
Ordering the data from least to greatest, we get:
55 55 55 55 55 55 55 80 80 80 630
So, the median is 55 .
when the maximum is changed to 860000
mean = 135000
mean is increased = 135000- 114090.909091= 20909.090909
the median remain unchanged
Please rate
orchestra answered 2 years agoRelated Solutions
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A small accounting firm pays each of its seven clerks $55,000,
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What is the mean salary paid at this firm? (Round your answer to
the nearest whole number.)
What is the median salary?
The firm gives no raises to the clerks and junior accountants, but
the owner is given a new salary of $860,000.
How does this change affect the mean? (Round your answer to the
nearest whole number.)
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