Answered: You are a public relations advisor for…

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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Question

You are a public relations advisor for local firefighters who are threatening to strike on the grounds that since 2010 the city council hasn't given a real raise. The mayor retorts that the median salary for firefighters in 2010 was $61,500, and that today the median salary is $82,500, a raise of $21,000. You want to attack that argument by accounting for the effects of inflation (CPI in 2010 was 218.5 and today it's 298.7). So how much additional buying power -- if any -- do firefighters at the median salary have today as compared to 12 years ago? (Pick the answer that it closest to your calculation; rounding may give you a slightly different result.)

A. $6,700 or more

B. $775 more

C. $227 more

D. $23 more

E. Firefighters actually have about $1,573 LESS buying power.

F. Firefighters actually have about $2,183 LESS buying power.

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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