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Sagot :
We are given the salaries of 9 employees of a business.
The data is also summarized by a box plot.
Part a:
Which measure of center, the mean or the median is best to use for this data?
If you look at the data then you will notice that there is a great difference between the salary of CEO and the salaries of most of the employees.
In mathematical terms, the salary of CEO can be termed as "outlier" which means an odd value.
In such a situation, it is better to use the median to measure the center.
Part b:
Recall that a box plot gives us 5 statistical measures.
1. Maximum value
2. Upper quartile
3. Median
4. Lower quartile
5. Minimum value
The line marked in red is the median of the data set.
The value of the median is $40k
This means that the average salary of the employee is $40,000
If you had calculated the mean then you would have gotton a greater salary because of the odd CEO salary which would not have been a good estimate.
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