The salaries of the employees at four companies are summarized below. Answer the questions about them. Company A: The range of salaries is \( \$ 50,000 \) and the mean salary is \( \$ 37,000 \). Company B: The range of salaries is \( \$ 46,000 \) and the mean salary is \( \$ 45,000 \). Company \( C \) : The range of salaries is \( \$ 52,000 \) and the mean salary is \( \$ 42,000 \). Company D: The range of salaries is \( \$ 49,000 \) and the mean salary is \( \$ 43,000 \). (a) Based on the information above, which company has the lowest salaries on average? (b) Based on the information above, which company's salaries have the least variability? (Ompany A Company A Company C
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The Deep Dive
To determine which company has the lowest salaries on average, let's take a look at the mean salaries provided. Company A has a mean salary of \( \$ 37,000 \), which is lower than all the others (Company B: \( \$ 45,000 \), Company C: \( \$ 42,000 \), Company D: \( \$ 43,000 \)). So, Company A has the lowest average salary! Now, concerning salary variability, we can assess the ranges. The range shows the difference between the highest and lowest salaries, giving us an idea of variability. Company B has a range of \( \$ 46,000 \), Company C: \( \$ 52,000 \), Company D: \( \$ 49,000 \), and Company A has the smallest range of \( \$ 50,000 \). Hence, Company B has the least variability in salaries. So, for the answers: (a) Company A (b) Company B