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In another company, every worker received a 5% raise. How
Chapter 1, Problem 9E(choose chapter or problem)
In another company, every worker received a 5% raise. How does this affect the mean salary? The standard deviation of the salaries?
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QUESTION:
In another company, every worker received a 5% raise. How does this affect the mean salary? The standard deviation of the salaries?
ANSWER:Step 1 of 2
The mean and standard deviation both increase by 5%.
Calculate the mean if every worker received a 5% raise.
Let \(X_{\text {old }}, S_{\text {old }}:\): before raising the mean and standard deviation.
\(X_{n e w}, S_{n e w}\) : after raising the mean and standard deviation.
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