Answer:
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Explanation:
The given statistics represent weekly salaries at Acme Corporation. Let's analyze each statistic:
1. Mean: The mean salary is the average of all the salaries. In this case, the mean is $758.
2. Median: The median salary is the middle value when all the salaries are arranged in ascending order. If there is an even number of salaries, the median is the average of the two middle values. Here, the median is $773.
3. Mode: The mode is the most frequently occurring salary. In this case, the mode is $755.
4. Standard deviation: The standard deviation measures the spread or variability of the salaries. A lower standard deviation indicates that the salaries are closer to the mean, while a higher standard deviation indicates more variability. Here, the standard deviation is $27.
5. First Quartile: The first quartile represents the 25th percentile of the salaries, meaning that 25% of the salaries are below this value. The first quartile is $719.
6. Third Quartile: The third quartile represents the 75th percentile of the salaries, meaning that 75% of the salaries are below this value. The third quartile is $786.
7. 88th Percentile: The 88th percentile represents the value below which 88% of the salaries fall. Here, the 88th percentile is $803.
8. P63: The P63 value represents the salary below which 63% of the salaries fall. In this case, P63 is $782.
In summary:
Mean: $758
Median: $773
Mode: $755
Standard deviation: $27
First Quartile: $719
Third Quartile: $786
88th Percentile: $803
P63: $782