Benjamin owns a small Internet business. Besides himself, he employs nine other
ID: 3324842 • Letter: B
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). 20, 30, 40, 50. 50, 55, 55, 55, 65, 80 (a) Determine the mean, median, and mode for salary The mean salary is thousand dollars. (Type an integer or a decimal.) The median salary io thousand dollars. CType 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. O B. There is no mode. (b) 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 (Type an integer or a decimal. Use a comma to separate answers as needed.) 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. Click to select your answer(s)Explanation / Answer
(a) The total = 500
The mean = 500/10 = 50
The Median is the average of the 2 middle numbers (as n =10, an even number of observations) = (50+55)/2 = 52.5
The Mode is 55
Adding 2.5 thousand to each gives us 22.5 32.5 42.5 52.5 52.5 57.5 57.5 57.5 67.5 82.5
The total is 525
The new mean = 525/10 = 52.5
The new Median = (52.5 + 57.5)/2 = 110/2 = 55
The new mode is = 57.5
Option C: All 3 measures increased by $2500
(c) Adding 5% to each gives us 21.0 31.5 42.0 52.5 52.5 57.75 57.75 57.75 68.25 84.0
The total is 525
The new mean = 525/10 = 52.5
The new Median = (52.5 + 57.75)/2 = 110.25/2 = 55.125
The new mode is = 57.5
Option D: All 3 measures increased by 5%.
(d) The total is 500 + 25 (to benjamin only) = 525
The new mean = 525/10 = 52.5
The new Median = (50 + 55)/2 = 105/2 = 52.5
The new mode is = 55
Option A: The mean increased by $2500, but the median and the mode did not change.
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