Find the best solutions to your problems with the help of IDNLearn.com. Our experts provide timely, comprehensive responses to ensure you have the information you need.

Consider this example on how different a median can be from a sample. Suppose there is a company that mentions the average salary at Company A last year was $ 135,750 per year. Being interested in this you try to investigate this. You discover there are 8 individuals, including the business owner, that works at the company. You discover that the salaries of the 7 individuals are surprisingly low. The salaries of those 7 individuals are $8,000, $8,000, $7,000, $11,000, $15,000, $17,000, and $20,000. You then discover the salary of the business owner to be $1,000,000.
Compare the mean with the median? What does this show?
Find Q1 (first quartile) , Q3 (third quartile) , and Interquartile Range (IQR)?
Are there outliers? Please prove there is an outlier using the Q1-1.5*IQR and Q3 + 1.5*IQR formulas?
Find the 10% trimmed mean of the 8 salaries above. Compare this with the median found in part a.
What do you think represents a more typical salary of the organization above? Would you want to work for this company?


Sagot :

Answer:

Kindly check explanation

Step-by-step explanation:

Given the data :

8000, 8000, 7000, 11000, 15000, 17000, 20000, 1000000.

Mean = Σx / n = 1086000 / 8 = 135750

Median = 1/2(n+1)th term = 8000

The lower quartile :

Q1 = 1/4(n+1)th term

Q1 = 8000

Q3 = 3/4 (n+1)th term

Q3 = 18500

IQR = 18500 - 8000 = 10500

OUTLIER :

8000 - (1.5*(10500)) = - 7750

18500 + (1.5*(10500)) = 34250

10% trimmed mean

10% * 8

Cut off 1 from the top and bottom

Data becomes : 8000, 8000, 11000, 15000, 17000, 20000

Trimmed mean = 13166

Your participation is crucial to us. Keep sharing your knowledge and experiences. Let's create a learning environment that is both enjoyable and beneficial. Your questions deserve precise answers. Thank you for visiting IDNLearn.com, and see you again soon for more helpful information.