Final answer:
25th and 60th percentiles for the salaries are 25th percentile: $338, 60th percentile: $767. So,the correct option is C) 25th percentile: $338, 60th percentile: $767.
Step-by-step explanation:
In order to find the 25th and 60th percentiles for the CEO salaries, the data was analyzed to determine the values that correspond to these percentiles. The 25th percentile marks the point below which 25% of the data falls, and the 60th percentile indicates the value below which 60% of the data lies.
Initially, the salaries were arranged in ascending order. This step facilitated the identification of the position of the salaries corresponding to the 25th and 60th percentiles within the dataset. With a total of 20 CEO salaries provided, the 25th percentile position was calculated as the 5th value (25% of 20), which amounted to $338. This indicates that 25% of the CEOs earn less than $338 million annually.
Similarly, the 60th percentile position was identified as the 12th value (60% of 20) within the arranged data, resulting in a salary of $767. This signifies that 60% of the CEOs earn a salary lower than $767 million per year.
By accurately determining the positions within the ordered dataset, the 25th and 60th percentiles were precisely established as $338 and $767, respectively, providing a clear understanding of the salary distribution among the CEOs surveyed.
So,the correct option is C) 25th percentile: $338, 60th percentile: $767.