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What is the most informative (useful) measure of central tendency of the yearly income of employees at MegaNational Corporation? Yearly income of 10 employees: $1,000,000, $750,000, $20,000, $20,000, $20,000, $20,000, $20,000, $20,000, $20,000, $15,000. The median, because the highest incomes will skew the mean. The standard deviation, because the most informative information is how far an income is from the mean. The mean, because the "average" tells us how much a typical employee will be paid. The range, because it allows us to determine the lowest and highest incomes in the company.

What is the most informative (useful) measure of central tendency of the yearly income of employees at MegaNational Corporation? Yearly income of 10 employees: $1,000,000, $750,000, $20,000, $20,000, $20,000, $20,000, $20,000, $20,000, $20,000, $15,000. The median, because the highest incomes will skew the mean. The standard deviation, because the most informative information is how far an income is from the mean. The mean, because the "average" tells us how much a typical employee will be paid. The range, because it allows us to determine the lowest and highest incomes in the company.

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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What is the most informative (useful) measure of central tendency of the yearly income of employees at MegaNational Corporation? Yearly income of 10 employees: $1,000,000, $750,000, $20,000, $20,000, $20,000, $20,000, $20,000, $20,000, $20,000, $15,000. The median, because the highest incomes will skew the mean. The standard deviation, because the most informative information is how far an income is from the mean. The mean, because the "average" tells us how much a typical employee will be paid. The range, because it allows us to determine the lowest and highest incomes in the company.
Transcribed Image Text:What is the most informative (useful) measure of central tendency of the yearly income of employees at MegaNational Corporation? Yearly income of 10 employees: $1,000,000, $750,000, $20,000, $20,000, $20,000, $20,000, $20,000, $20,000, $20,000, $15,000. The median, because the highest incomes will skew the mean. The standard deviation, because the most informative information is how far an income is from the mean. The mean, because the "average" tells us how much a typical employee will be paid. The range, because it allows us to determine the lowest and highest incomes in the company.
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