Benjamin owns a small Internet business. Besides himself, he employs nine other

Question

Benjamin owns a small Internet business. Besides himself, he employs nine other people. The salaries earned by the employees are given below in thousands of dollars (Benjamin's salary is the largest, of course). Complete parts(a) through (d). 10, 35, 40, 50, 50, 50, 55, 55, 65, 90 There is no mode Business has been good! As A result, Benjamin has a total of $25,000 in bonus pay to distribute to his employees. One option for distributing bonuses is to give each employee (including himself) $2, 500. Add the bonuses under this plan to the original salaries to create a new data set. Recalculate the mean, median, and mode. How do they compare to the originals? The mean for the new data set is ___ thousand dollars (Type an integer or a decimal.) The median salary for a new data set is ___ thousand dollars (Type an integer or a decimal.) Select the correct choice below and fill in any answer boxes in your choice:

Explanation / Answer

Given data set is : 10 35 40 50 50 50 55 55 65 90

After adding bonus $2500 i.e. 2.5 in thousand of dollars , we get new data set as ,

12.5 37.5 42.5 52.5 52.5 52.5 57.5 57.5 67.5 92.5

(a) Mean salary for new data set is given by ,

Mean =(12.5+ 37.5+ 42.5+ 52.5+ 52.5+ 52.5+ 57.5+ 57.5+ 67.5+ 92.5)/10

=525 /10

=52.5

Thus, the mean salary for the new data set is 52.5 thousand dollars

(b) By defination , median of n observations is given by ,

Median= n/2 if n is odd

= mean of middle two observations if n is even

Here , n=10 which is even

Middle two observatios are 52.5 , 52.5 .

Median =(52.5 +52.5)/2 =52.5

Thus, the median salary for the new data set is 52.5 thousand dollars

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.