In a certain company, every worker received a $50-per-week raise. How does this affect the mean salary? The standard deviation of the salaries?
Solution 8E
Step1 of 3:
We have company in that every worker recieved a $50 per week raise.
We need to check How does this affect the mean salary? and The standard deviation of the salaries?
Step2 of 3:
Let be the old salary of workers.
1).Mean of the X is given by:
Where,
= Mean
x = random variable
N = sample size
= 3.
Now,
=
=
=
Hence, =
.
Therefore, the mean salary is raised by $50.
Step3 of 3:
2). Standard deviation of X is given by:
=
=
Hence, =
Therefore, standard deviation will be same.
