Our firm has 5 classes of employees. The average salary for each class is $40,00

Question

Our firm has 5 classes of employees. The average salary for each class is $40,000, $50,000, $60,000, $80,000, and $100,000. The number of employees in each class is 20, 30, 10, 6, and 4, respectively.

Set up a table (in Excel or by hand) showing the calculation to determine the weighted

average salary for our company. (Hint: consider the salary of each class to be the data values

and the number of employees in each class to be the weights.)

What is the median salary for our company?

Would you expect this distribution to be relatively symmetric, skewed left, or skewed right?

Why?

Explanation / Answer

Ans:

Weighted average salary or mean=3780000/70=54000

median=50000

As,mean is higher than median,so distribution is skewed right.

x f f*x 40000 20 800000 50000 30 1500000 60000 10 600000 80000 6 480000 100000 4 400000 Total= 70 3780000

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