Question

the salaries of the employees at four companies are summarized below. answer the questions about them. company a: the mean salary is $20,000 and the range of salaries is $42,000. company b: the mean salary is $19,000 and the range of salaries is $51,000. company c: the mean salary is $24,000 and the range of salaries is $49,000. company d: the mean salary is $22,000 and the range of salaries is $43,000. (a) based on the information above, which company has the highest salaries on average? company a company b company c company d (b) based on the information above, which companys salaries have the least variability? company a company b company c company d

Explanation:

Step1: Compare the mean salaries

Compare the mean salaries of the four companies:

• Company A: \( \$20,000 \)
• Company B: \( \$19,000 \)
• Company C: \( \$24,000 \)
• Company D: \( \$22,000 \)

Since \( 24000>22000 > 20000>19000 \), Company C has the highest mean salary.

Step2: Compare the ranges (a measure of variability)

Compare the ranges of the four companies:

• Company A: \( \$42,000 \)
• Company B: \( \$51,000 \)
• Company C: \( \$49,000 \)
• Company D: \( \$43,000 \)

Since \( 42000<43000 < 49000<51000 \), Company A has the smallest range (and thus the least variability as range is a measure of spread).

Answer:

(a) C. Company C
(b) A. Company A