The annual salaries of General Managers of all 220 locations of a large national

Question

The annual salaries of General Managers of all 220 locations of a large national grocery chain were published in a recent financial publication. Included in the data was a graphical representation of the data that posted a mean salary of 1.3 million dollars with a standard deviation of SI 50,000. A General Manager at the Conroe, TX. location cams an annual salary of $925,000. Interpret this data. The General Manager cams a salary that is more than generally close to the mean. The General Manager cams a salary that is less than one standard deviation from the mean. The General Manager cams a salary that is more than two standard deviation from the mean. The General Manager cams a salary that is more than three standard deviations from the mean and he should petition for a salary increase.

Explanation / Answer

mean = 1.3 million

sd = 0.15 million

actual salary = 0.925 million

difference = 1.3 -0.925 = 0.375 note 0.375 > 2 *0.15 > 2* sd but 0.375 < < 0.45 < 3 *0.15

hence

option c) is correct

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