Were you to have information about the salaries of various levels of employees in each company, what would you use (mean, median, or mode) to calculate your expected salary? why?

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03-08-2022
Business

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Were you to have information about the salaries of various levels of employees in each company, what would you use (mean, median, or mode) to calculate your expected salary? why?

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Vickynehraidn Vickynehraidn · Answer 1 · 2022-08-15T04:21:16-04:00

We will use median to calculate various level of salaries of different employees.

Every individual has incomes and expenditures and some savings for the purpose of preparation of budget. Calculation of wealth can differ accordingly as wealth of the different employees would be different as per their earning.

There would be different employees in each company and taking out calculations on the basis of mean would not give any final result. Mode is the result of expected outcomes and will not give exact results. Hence, median would not be affected by small or large numbers so median would give exact results.

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