Mackenzie makes the minimum salary for an Actuary. Stacy makes the median salary for a CPA. The boxplot below shows salaries for Actuaries and CPAs.- **CPA**: - Minimum salary: approximately $35,000 - First quartile (Q1): approximately $50,000 - Median: approximately $60,000 - Third quartile (Q3): approximately $75,000 - Maximum salary: approximately $90,000- **Actuary**: - Minimum salary: approximately $50,000 - First quartile (Q1): approximately $58,000 - Median: approximately $66,000 - Third quartile (Q3): approximately $76,000 - Maximum salary: approximately $85,000Mackenzie makes the minimum salary for an Actuary. Stacy makes the median salary for a CPA.**Who makes more money?**- Stacy- Mackenzie**How much more?** $ [Enter amount]

Given, Mackenzie makes the minimum salary for an Actuary ans stacy makes median salary for a CPA…

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MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Mackenzie makes the minimum salary for an Actuary. Stacy makes the median salary for a CPA.

The boxplot below shows salaries for Actuaries and CPAs.

- **CPA**:
- Minimum salary: approximately $35,000
- First quartile (Q1): approximately $50,000
- Median: approximately $60,000
- Third quartile (Q3): approximately $75,000
- Maximum salary: approximately $90,000

- **Actuary**:
- Minimum salary: approximately $50,000
- First quartile (Q1): approximately $58,000
- Median: approximately $66,000
- Third quartile (Q3): approximately $76,000
- Maximum salary: approximately $85,000

Mackenzie makes the minimum salary for an Actuary. Stacy makes the median salary for a CPA.

**Who makes more money?**
- Stacy
- Mackenzie

**How much more?** $ [Enter amount]

Definition Definition Middle value of a data set. The median divides a data set into two halves, and it also called the 50th percentile. The median is much less affected by outliers and skewed data than the mean. If the number of elements in a dataset is odd, then the middlemost element of the data arranged in ascending or descending order is the median. If the number of elements in the dataset is even, the average of the two central elements of the arranged data is the median of the set. For example, if a dataset has five items—12, 13, 21, 27, 31—the median is the third item in ascending order, or 21. If a dataset has six items—12, 13, 21, 27, 31, 33—the median is the average of the third (21) and fourth (27) items. It is calculated as follows: (21 + 27) / 2 = 24.

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