A small accounting firm has 4 accountants who each earn a different salary between $50,000 and $60,000, and a 5th accountant who works part-time for tax season and earns $10,000. (Show datal The firm decides to get rid of the part-time accountant and keep the other 4 salaries the same. How will getting rid of the part-time accountant affect the mean and median? Choose 1 answer: Both the mean and median will increase, but the median will increase by more than the mean. Both the mean and median will increase, but the mean will increase by more than the median. The mean will increase, and the median will decrease. The median will increase, and the mean will decrease.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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A small accounting firm has 4 accountants who each earn a different salary between $50,000 and $60,000, and
a 5th accountant who works part-time for tax season and earns $10,000. [Show datal
The firm decides to get rid of the part-time accountant and keep the other 4 salaries the same.
How will getting rid of the part-time accountant affect the mean and median?
Choose 1 answer:
Both the mean and median will increase, but the median will increase by more than the mean.
Both the mean and median will increase, but the mean will increase by more than the median.
The mean will increase, and the median will decrease.
The median will increase, and the mean will decrease.
Transcribed Image Text:A small accounting firm has 4 accountants who each earn a different salary between $50,000 and $60,000, and a 5th accountant who works part-time for tax season and earns $10,000. [Show datal The firm decides to get rid of the part-time accountant and keep the other 4 salaries the same. How will getting rid of the part-time accountant affect the mean and median? Choose 1 answer: Both the mean and median will increase, but the median will increase by more than the mean. Both the mean and median will increase, but the mean will increase by more than the median. The mean will increase, and the median will decrease. The median will increase, and the mean will decrease.
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