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Here are the summary statistics for the weekly payroll of a small company: lowest salary = $300, mean salary = $700, median = $500, range = $1200, IQR = $600, first quartile = $350, standard deviation = $400.

a) Do you think the distribution of salaries is symmetric, skewed to the left, or skewed to the right? Explain why

b) Between what two values are the middle 50% of the salaries found?

c) Suppose business has been good and the company gives every employee a $50 raise. Tell the new value of each of the summary statistics.

d) Instead, suppose the company gives each employee a 10% raise. Tell the new value of each of the summary statistics.

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M92204280

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