Question

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

Answer 1

The mean is 30,000

The standard deviation is 10,893.42

What do you mean by a0 and a1?

Answer 2

The mean is 30000 and standard deviation is 9746.79.

Explanation:

Formula of mean

`Mean=\bar{x}=(\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.