Paragraph Styles 200- 100- 200000 400000 600000 800000 Annual Salary Variable An
ID: 3052051 • Letter: P
Question
Paragraph Styles 200- 100- 200000 400000 600000 800000 Annual Salary Variable Annual Salary tDev N Mean Median TrMean 1000 101165 68734 88756 104296 Variable Annual Salary A representative of this company then released the following statement: 93 141138 Minimum Maximum 812679 29194 "It is a great day for our company when we can finally say that more than half of our workforce is making over $100,000.00 per year. When the average sa we can without reservation claim to be the greatest company to work for in nation." this great (a) Do you believe this statement to be an accurate representation of the statistics shown above? Explain your conclusions. (b) How could you change this statement to accurately portray this information?Explanation / Answer
a. The statement is not an accurate representation of the statistics shown. The median is $68734 and hence half of the workforce is having a salary more than 68734 and not 100000. With high average salary, the company cannot be great to work for because high average salary could be due to a very high salary of top management but the major workforce is not paid well.
b. The statement can be changed to say that on an average the workforce is making more than $100000 per year
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