-- A small accounting firm pays each of its five clerks $40,000, two junior acco
ID: 3271428 • Letter: #
Question
-- A small accounting firm pays each of its five clerks $40,000, two junior accountants $65,000 each, and the firm's owner $340,000. What is the mean salary paid at this firm? (Round your answer to the nearest whole number.)
$
How many of the employees earn less than the mean?
employees
What is the median salary?
$
--- A small accounting firm pays each of its five clerks $21000, two junior accountants $69000 each, and the firm's owner $241000.
What is the mean salary paid at this firm?
How many of the employees earn less than the mean?
What is the median salary?
If this firm gives no raises to the clerks and junior accountants, but the owner now has a salary of $435000.
How does this change affect the mean?
The mean increases by $ .
How does it affect the median?
The median increases by $
Explanation / Answer
a) Mean = (5*40000+2*65000+340000)/8 = $83750
No of of the employees earn less than the mean = 7
Median = $40000
b) Mean = (5*21000+2*69000+241000)/8 = $60500
No of of the employees earn less than the mean = 5
Median = $21000
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