Math Problem Statement

Question content area top Part 1 Sample annual salaries​ (in thousands of​ dollars) for employees at a company are listed. 53  51  55  49  30  30  53  51  55  31  49  53  41
​(a) Find the sample mean and sample standard deviation. ​(b) Each employee in the sample is given a 6​% raise. Find the sample mean and sample standard deviation for the revised data set. ​(c) To calculate the monthly​ salary, divide each original salary by 12. Find the sample mean and sample standard deviation for the revised data set. ​(d) What can you conclude from the results of​ (a), (b), and​ (c)? Question content area bottom Part 1 ​(a) The sample mean is x overbarequals    enter your response here thousand dollars. ​(Round to one decimal place as​ needed.)

Solution

To solve the given problem, let's break it into parts and address each step. The data provided represents annual salaries (in thousands of dollars):

Data

53,51,55,49,30,30,53,51,55,31,49,53,4153, 51, 55, 49, 30, 30, 53, 51, 55, 31, 49, 53, 41

(a) Find the sample mean and sample standard deviation.

  1. Sample Mean: The formula for the sample mean is: xˉ=xin\bar{x} = \frac{\sum x_i}{n} where nn is the number of data points.

  2. Sample Standard Deviation: The formula is: s=(xixˉ)2n1s = \sqrt{\frac{\sum (x_i - \bar{x})^2}{n - 1}}


(b) Each employee gets a 6% raise.

If each salary is increased by 6%, the new salary for each employee becomes: xi=xi×1.06x_i' = x_i \times 1.06 Calculate the new sample mean and standard deviation for the updated salaries.


(c) Monthly Salary Calculation:

For monthly salary: [ x_i'' =

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Math Problem Analysis

Mathematical Concepts

Statistics
Sample Mean
Sample Standard Deviation
Percentage Increase
Division and Proportions

Formulas

Sample Mean: x̄ = Σxᵢ / n
Sample Standard Deviation: s = √[Σ(xᵢ - x̄)² / (n - 1)]
Adjusted Salary: x' = x × (1 + percentage/100)
Monthly Salary: x'' = x / 12

Theorems

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Suitable Grade Level

Grades 10-12