The salaries of the employees at four companies are summarized below. Answer the questions about them.
Company A: The mean salary is
$42,000
and the range of salaries is
$59,000
.
Company B: The mean salary is
$37,000
and the range of salaries is
$62,000
.
Company C: The mean salary is
$35,000
and the range of salaries is
$54,000
.
Company D: The mean salary is
$38,000
and the range of salaries is
$53,000
.
(a) Based on the information above, which company's salaries have the least variability?
(b) Based on the information above, which company has the lowest salaries on average?
(a) Based on the information above, Company C has the least variability in salaries because it has the smallest range ($54,000).
(b) Based on the information above, Company C has the lowest salaries on average because it has the lowest mean salary ($35,000).
To determine which company's salaries have the least variability, we can compare the ranges of salaries for each company.
(a) Based on the information given, Company D has the smallest range of salaries, which is $53,000. Therefore, Company D has the least variability in salaries.
To determine which company has the lowest salaries on average, we can compare the mean salaries for each company.
(b) Based on the information given, Company C has the lowest mean salary, which is $35,000. Therefore, Company C has the lowest salaries on average.