the salaries of the employees at four companies are summarized below. answer the questions about…
the salaries of the employees at four companies are summarized below. answer the questions about them.\ncompany a: the range of salaries is $47,000 and the mean salary is $21,000.\ncompany b: the range of salaries is $54,000 and the mean salary is $14,000.\ncompany c: the range of salaries is $53,000 and the mean salary is $21,000.\ncompany d: the range of salaries is $51,000 and the mean salary is $12,000.\n(a) based on the information above, which companys salaries have the least variability?\ncompany a company b company c company d\n(b) based on the information above, which company has the highest salaries on average?\ncompany a company b company c company d
Answer
Explanation:
Step1: Understand variability
Variability can be measured by range. Smaller range means less variability.
Step2: Compare ranges
Company A range = $47000$, Company B range = $54000$, Company C range = $53000$, Company D range = $51000$. Company A has the smallest range.
Step3: Understand average
Average is measured by mean. Higher mean means higher average salary.
Step4: Compare means
Company A mean = $21000$, Company B mean = $14000$, Company C mean = $21000$, Company D mean = $12000$. Company A and Company C have the highest mean.
Answer:
(a) Company A (b) Company A, Company C