Situation 1. A small warehouse employs a supervisor at $1,200 a week. An invento
ID: 2934060 • Letter: S
Question
Situation 1. A small warehouse employs a supervisor at $1,200 a week. An inventory manager at $700 a week, six stock boys at $400 a week, and four drivers at $500 a week. 1. Find the 5 numbers summary statistic for his data. Xmin.- Q2 = 2. Find the mean (average) wage 200 500(4): 2000 3. How many employees earn more than the mean wage? 2 em ployees Which measure of center best describe a typical wage at this company: The mean or the median? 4. median 5. Find the inter-quartile Range (IQR) IQR Find the standard Deviation. Find the Range. Which measure of spread would best describe the payroll: the range, the lQR, or the standard 6. 7. Range 8. deviation?Explanation / Answer
Mean = 525
Sum of squares of differences = (400 - 525)2 * 6 + (500 - 525)2 * 4 + (1200 - 525)2 + (700 - 525)2
= 582500.
Standard deviation (population standard) = (582500 / 12) = 220.3217.
Standard deviation (sample standard) = (582500 / 11) = 230.1185.
Range = Maximum value - Minimum value = 1200 - 400 = 800.
Due to the presence of an outlier (1200), IQR is the best measure of spread.