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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

Ask by Little Ruiz. in the United States
Jan 24,2025

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Answer

- **(a)** Company A has the lowest average salary. - **(b)** Company B has the least variability in salaries.

Solution

Let's analyze the provided data for each company to answer the questions: ### Given Data: - **Company A** - **Mean Salary:** \$37,000 - **Range of Salaries:** \$50,000 - **Company B** - **Mean Salary:** \$45,000 - **Range of Salaries:** \$46,000 - **Company C** - **Mean Salary:** \$42,000 - **Range of Salaries:** \$52,000 - **Company D** - **Mean Salary:** \$43,000 - **Range of Salaries:** \$49,000 --- ### (a) Which company has the **lowest salaries on average**? - **Solution:** Compare the mean salaries of all companies. - **Company A:** \$37,000 - Company B: \$45,000 - Company C: \$42,000 - Company D: \$43,000 - **Answer:** **Company A** has the lowest average salary of \$37,000. --- ### (b) Which company's salaries have the **least variability**? - **Solution:** Variability can be assessed using the **range** of salaries. A smaller range indicates less variability. - **Company A:** \$50,000 - **Company B:** \$46,000 - Company C: \$52,000 - Company D: \$49,000 - **Answer:** **Company B** has the least variability in salaries with a range of \$46,000. --- **Summary of Answers:** - **(a)** Company A - **(b)** Company B

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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

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