Answered

In a small company of 10 people the salaries are as follows: 5 people earn $25,000, 3 earn $27,000, 1 earns $34,000, and the owner earns $60,000 What is the mean and standard deviation (to the nearest dollar) of their salaries?


Mean salary: $________a0


Standard Deviation: $_________a1

Verified Answer :

baseballer337

The mean is 30,000

The standard deviation is 10,893.42

What do you mean by a0 and a1?

Answer:

The mean is 30000 and standard deviation is 9746.79.

Step-by-step explanation:

Formula of mean

\(Mean=\bar{x}=\frac{\sum x_i}{n}\)

Formula of standard deviation:

\(S.D.=\sigma=\sqrt{\frac{\sum{(x-\bar{x})^2}}{n}}\)

Using the below table.

\(Mean=\bar{x}=30000\)

\(S.D.=\sigma=9746.794345\approx 9746.79\)

Therefore the mean is 30000 and standard deviation is 9746.79.

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