Question
In: Statistics and Probability
Sample annual salaries (in thousands of dollars) for employees at a company are listed. 51 34 ...
Sample annual salaries (in thousands of dollars) for employees at a company are listed.
51
34
59
52
27
27
51
34
59
31
52
51
41
(a) Find the sample mean and sample standard deviation.
(b) Each employee in the sample is given a
66%
raise. Find the sample mean and sample standard deviation for the revised data set.
(c) To calculate the monthly salary, divide each original salary by 12. Find the sample mean and sample standard deviation for the revised data set.
(d) What can you conclude from the results of (a), (b), and (c)
Solutions
Expert Solution
Solution: 51,34,59,52,27,27,51,34,59,31,52,51,41
a. mean = sum of terms/ number of terms = 569/13 = 43.7692
standard deviation = 11.8332
b. every individual receives a 66% raise
51 + (66%*51) = 84.66
34 + (66%*34) = 56.44
59 + (66%*59) = 97.94
52 + (66%*52) = 86.32
27 + (66%*27) = 44.82
27 + (66%*27) = 44.82
51 + (66%*51) = 84.66
34 + (66%*34) = 56.44
59 + (66%*59) = 97.94
31 + (66%*31) = 51.46
52 + (66%*52) = 86.32
51 + (66%*51) = 84.66
41 + (66%*41) = 68.06
=> 84.66,56.44,97.94,86.32,44.82,44.82,84.66,56.44,97.94,51.46,86.32,84.66,68.06
Mean = 944.54/13 = 72.6569
standard deviation = 19.6432
3. Every salary is divided by 12
51/12 = 4.25
34/12 = 2.83
59/12 = 4.92
52/12 = 4.33
27/12 = 2.25
27/12 = 2.25
51/12 = 4.25
34/12 = 2.83
59/12 = 4.92
31/12 = 2.58
52/12 = 4.33
51/12 = 4.25
41/12 = 3.42
4.25,2.83,4.92,4.33,2.25,2.25,4.25,2.83,4.92,2.58,4.33,4.25,3.42
Mean = 47.41/13 = 3.6469
standard deviation = 0.9871
orchestra answered 1 year agoRelated Solutions
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