The Wall Street Journal reported that the median salary for middle-level manager

Question

The Wall Street Journal reported that the median salary for middle-level manager jobs was approximately $85,000 (The Wall Street Journal, August 6, 2013). Suppose that an independent study of middle-level managers employed at companies located in Atlanta, Georgia, was conducted to compare the salaries of managers working at firms in Atlanta to the national average. The following data show the salary, in thousands of dollars, for a 8. sample of 15 middle-level managers. 108 83 106 73 53 85 80 63 67 75 124 55 93 118 77 Compute the median salary for the sample of 15 middle-level managers. How does the median for this group compare to the median reported by The Wall Street Journal? Compute the mean annual salary and discuss how and why it differs from the median a. b. computed in part (a). Compute the first and third quartiles. c.

Explanation / Answer

Median of 80 is lower than median of 85

Mean of 84 is higher than mean of 85, hence it is a right skewed distribution

53 Mean=Sum(53:124)/15 84 55 Median=8th value 80 63 Quartile 1=0.5*4th+0.5*5th 70 67 Quartile 3=0.5*11th+0.5*12th 99.5 73 75 77 80 83 85 93 106 108 118 124

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