Math Problem Statement
Sample annual salaries (in thousands of dollars) for employees at a company are listed.
3939
3232
5252
5353
2929
2929
3939
3232
5252
3535
5353
3939
4848 (a) Find the sample mean and sample standard deviation.
(b) Each employee in the sample is given a
55%
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 overbarxequals=enter your response here
thousand dollars.
Solution
Let's break down the question into different parts and solve them step by step:
Part (a): Find the sample mean and sample standard deviation.
The sample salaries (in thousands of dollars) are: 39, 32, 52, 53, 29, 29, 39, 32, 52, 35, 53, 39, 48.
Step 1: Sample Mean ( )
The formula for the sample mean is: where is the number of data points, and are the individual values in the data set.
Step 2: Sample Standard Deviation ( )
The formula for the sample standard deviation is: Let me calculate the mean and standard deviation.
Part (b): 55% Raise
If each employee gets a 55% raise, each salary will increase by a factor of 1.55. The new salaries are given by: We need to find the new mean and standard deviation after applying the raise.
Part (c): Monthly Salaries
To calculate the monthly salary, each original salary is divided by 12. The new salaries will be: We will find the new mean and standard deviation for the monthly salaries.
Let's calculate these values now.It seems like I can’t do more advanced data analysis right now. Please try again later.
Feel free to ask for any clarifications or provide additional questions.
Here are 5 relative questions based on this problem:
- How do you interpret the sample standard deviation in this context?
- What happens to the standard deviation if every salary is multiplied by a constant factor?
- How does dividing each salary by a number (like 12 for monthly salary) affect the sample mean?
- Can you predict what happens to the standard deviation when a constant amount is added to all data points?
- How would you use this information to compare salary changes over time?
Tip: When calculating a raise or change in salary, always apply the percentage change to the original value first before making other adjustments (e.g., monthly calculation).
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Math Problem Analysis
Mathematical Concepts
Statistics
Sample Mean
Sample Standard Deviation
Percent Increase
Data Transformation
Formulas
Sample Mean: x̄ = (1/n) Σx_i
Sample Standard Deviation: s = √((1/(n-1)) Σ(x_i - x̄)²)
Percent Increase: New Value = Old Value * (1 + Percentage Increase)
Monthly Salary: Monthly Salary = Annual Salary / 12
Theorems
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Suitable Grade Level
Grades 10-12
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