Answer:
1. The mean and median are the most commonly used measures of central tendency.
2.
a) The newspaper was reporting the mean annual earning
b) Most employees are likely to be upset by the newspaper article since a majority of them earn way below $78,000 a year.
3. In one computation of the mean, 90 can be multiplied by 2 since 2 employees earn 90,000 each per year. Similarly, 65 can be multiplied by 4 since 4 employees earn 65,000 each per year.
4.
a)
Mean: $56428.57143
Median: $50000
b)
The difference between the values;
Mean: 78000 - 56428.57143 = $21,571.43
Median: 65000 - 50000 = $15,000
Explanation:
The mean is the average of a set of data; it is the sum of the elements in a data set divided by the number of elements.
The median on the other hand is the middle value of a data set after they have been arranged in increasing order.
The median is more robust to outliers than the mean, as seen from 4b