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 ago
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