Question

if a company has 5 employees with annual salaries of $90,000, $60,000 ,$70,000 ,$90,000 and $20,000 respectively, what is the mean annual salary at the company?

Answer 1

66,000

Step-by-step explanation:

Answer 2

Mean annual salary = $66,000

Step-by-step explanation:

Given the following data;

• Number of employees = 5
• Employee's salaries = $90,000, $60,000 ,$70,000 ,$90,000 and $20,000.

To find the mean annual salary at the company;

First of all, we would find the total amount of salaries.

Total amount = 90,000 + 60,000 + 70,000 + 90,000 + 20,000

Total amount = $330,000

Next, we would calculate the mean annual salary at the company;

`Mean \; annual\; salary = \frac {Total \; salary}{Number \; of \; employees}`

Substituting into the above formula, we have;

`Mean \; annual\; salary = \frac {330,000}{5}`

Mean annual salary = $66,000