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The StatCorp Corporation questions that follow by yourself or with a partner. Below are the monthly salaries for all 16 employees of the StatCorp Data Analysis Corporation. Answer the Monthly salaries: 12800 7500 7400 7350 7250 6500 5100 2800 2500 2500 1) Find the mean and standard deviation of employee's salaries. Why are we using u and o? standard deviation? 2) Business has been good, so every employee receives a raise of $1000, What will happen to the mean and P= HE σ= 3) Business has not been good. Suppose that we have to cut everyone's pay by $800 (the original salaries). Predict the new mean and standard deviation of salaries? H= 6350 6125 6000 5859 5760 5230 σ= 4) Suppose that we doubled everyone's original salary. What will happen to the mean and standard deviation? σ=

The StatCorp Corporation questions that follow by yourself or with a partner. Below are the monthly salaries for all 16 employees of the StatCorp Data Analysis Corporation. Answer the Monthly salaries: 12800 7500 7400 7350 7250 6500 5100 2800 2500 2500 1) Find the mean and standard deviation of employee's salaries. Why are we using u and o? standard deviation? 2) Business has been good, so every employee receives a raise of $1000, What will happen to the mean and P= HE σ= 3) Business has not been good. Suppose that we have to cut everyone's pay by $800 (the original salaries). Predict the new mean and standard deviation of salaries? H= 6350 6125 6000 5859 5760 5230 σ= 4) Suppose that we doubled everyone's original salary. What will happen to the mean and standard deviation? σ=

MATLAB: An Introduction with Applications
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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TIT The StatCorp Corporation Below are the monthly salaries for all 16 employees of the StatCorp Data Analysis Corporation. Answer the questions that follow by yourself or with a partner. Monthly salaries: 12800 7500 7400 7350 7250 6500 6350 6125 6000 5859 5760 5230 5100 2800 2500 2500 1) Find the mean and standard deviation of employee's salaries. Why are we using μ and o? standard deviation? 2) Business has been good, so every employee receives a raise of $1000. What will happen to the mean and P= P=. O 3) Business has not been good. Suppose that we have to cut everyone's pay by $800 (the original salaries). Predict the new mean and standard deviation of salaries? P= σ= 4) Suppose that we doubled everyone's original salary. What will happen to the mean and standard deviation? P= 6= σ= 5) Suppose that we give everyone a 30% raise over their original salary. Predict the new mean and standard deviation of salaries? σ= 6) The company CEO, whose salary is included in the list above, brags to an online magazine that StatCorp has the nation's largest mean salary compared to all other corporations of its type and size. Employees feel as if this is not entirely accurate. Why might they feel this way and how might they rather have the typical salary reported without changing or excluding any salaries to make it more accurate in their eyes? 7) An employee suggests a new salary structure in which each employee gets a flat $500 raise followed by a 4% raise at the end of the year. The CEO wants to give the 4% raise first and then a $500 raise at years end. Why might the CEO want the changes to the salary done in that order? Does it matter?
Transcribed Image Text:TIT The StatCorp Corporation Below are the monthly salaries for all 16 employees of the StatCorp Data Analysis Corporation. Answer the questions that follow by yourself or with a partner. Monthly salaries: 12800 7500 7400 7350 7250 6500 6350 6125 6000 5859 5760 5230 5100 2800 2500 2500 1) Find the mean and standard deviation of employee's salaries. Why are we using μ and o? standard deviation? 2) Business has been good, so every employee receives a raise of $1000. What will happen to the mean and P= P=. O 3) Business has not been good. Suppose that we have to cut everyone's pay by $800 (the original salaries). Predict the new mean and standard deviation of salaries? P= σ= 4) Suppose that we doubled everyone's original salary. What will happen to the mean and standard deviation? P= 6= σ= 5) Suppose that we give everyone a 30% raise over their original salary. Predict the new mean and standard deviation of salaries? σ= 6) The company CEO, whose salary is included in the list above, brags to an online magazine that StatCorp has the nation's largest mean salary compared to all other corporations of its type and size. Employees feel as if this is not entirely accurate. Why might they feel this way and how might they rather have the typical salary reported without changing or excluding any salaries to make it more accurate in their eyes? 7) An employee suggests a new salary structure in which each employee gets a flat $500 raise followed by a 4% raise at the end of the year. The CEO wants to give the 4% raise first and then a $500 raise at years end. Why might the CEO want the changes to the salary done in that order? Does it matter?
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