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

Question

Benjamin owns a small Intermet business. Besides himself, he employs nine other people. The salaries earmed by the employees are given below in thousands of dollars (Benjamin's salary is the largest, of course). Complete parts (a) through (d) 25, 35, 45, 50, 50, 50, 55, 55,60, 75 (a) Determine the mean, median, and mode for salary. The mean salary isthousand dolars. (Type an integer or a deornal.) The median salary isthousand dollars. (Type an integer or a decimal.) Select the correct choice below and fill in any answer boxes in your choice. A. The mode salary is thousand dollars. Type an integer or a decimal. Use a comma to separate answers as needed.) There is no mode. OB- b) Business has been goodt As a result, Benjamin has a total of $25,000 in bonus pay to distribute to his employees One option for distnibuting 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 How do they compare to the originals? the mean, median, and mode. The mean for the new data set is thousand dollars. Type an integer or a decimal.)

Explanation / Answer

Solution:

The data set is : 25,35,45,50,50,50,55,55,60,75 (in thousand of dollars)

(a) From the original data set :

Mean Salary - 50

Median Salary - 50

Mode Salary - 50

(b) After adding $2500 to each salary including himself :

Data Set : 2525,2535,2545,2550,2550,2550,2555,2555,2560,2575

Mean Salary - 2550

Median Salary - 5250

Mode Salary - 2550

(C) All the three measures increased by $2500

(c) After adding 5% of each salary to each employee :

Data Set : 26.25,36.75,47.25,52.50,52.50,52.50,57.75,57.75,63,78.75

Mean Salary - 52.5

Median Salary - 52.5

Mode Salary - 52.5

(A) All the three measures are increased by 5%.

(d) After keeping the full bonus for himself :

Data Set : 25,35,45,50,50,50,55,55,60,75+25000=25075

Mean Salary - 2550

Median Salary - 50

Mode Salary - 50

(A) The mean is increased by $2500, but the median and the mode did not change.

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