the salaries of the employees at four companies are summarized below. answer the questions about them…
the salaries of the employees at four companies are summarized below. answer the questions about them. company a: the mean salary is $26,000 and the range of salaries is $35,000. company b: the mean salary is $30,000 and the range of salaries is $38,000. company c: the mean salary is $22,000 and the range of salaries is $36,000. company d: the mean salary is $24,000 and the range of salaries is $44,000. (a) based on the information above, which companys salaries have the most variability? (b) based on the information above, which company has the lowest salaries on average? (a) company a company b company c company d (b) company a company b company c company d
Answer
Explanation:
Step1: Recall variability measure
Range is a measure of variability. Larger range implies more variability.
Step2: Compare ranges
Company A has range = $35000$, Company B has range = $38000$, Company C has range = $36000$, Company D has range = $44000$. Since $44000$ is the largest range, Company D has the most variability.
Step3: Compare means for lowest average
Company A has mean = $26000$, Company B has mean = $30000$, Company C has mean = $22000$, Company D has mean = $24000$. Since $22000$ is the lowest mean, Company C has the lowest salaries on average.
Answer:
(a) Company D (b) Company C