Question

the salaries of the employees at four companies are summarized below. answer the questions about them.
company a: the mean salary is $33,000 and the range of salaries is $35,000
company b: the mean salary is $30,000 and the range of salaries is $54,000,
company c: the mean salary is $32,000 and the range of salaries is $48,000
company d: the mean salary is $35,000 and the range of salaries is $56,000
(a) based on the information above, which companys salaries have the least variability?
o company a
o company b
o company c
o company d
(b) based on the information above, which company has the lowest salaries on average?
o company a
o company b
o company c
o company d

Explanation:

(a)

Step 1: Compare the ranges

The range is a measure of variability. A smaller range indicates less variability.
Company A: range = $35,000$
Company B: range = $54,000$
Company C: range = $48,000$
Company D: range = $56,000$
Since $35,000<48,000 < 54,000<56,000$, Company A has the smallest range.

(b)

Step 1: Compare the mean salaries

The mean salary represents the average salary.
Company A: mean = $33,000$
Company B: mean = $30,000$
Company C: mean = $32,000$
Company D: mean = $35,000$
Since $30,000<32,000 < 33,000<35,000$, Company B has the lowest mean (average) salary.

Answer:

(a) Company A
(b) Company B