Wageweb exhibits salary data obtained from surveys. It provides compensation information on over 170 benchmark positions, including finance positions. It reports the salaries of chief finance officers for mid-size firms. Suppose that a sample is taken of the annual salaries for 25 CFOs. Assume the data are in thousands of dollars:
173.1 171.2 141.9 112.6 211.1 156.5 145.4 134.0 192.0
185.8 168.3 131.0 214.4 155.2 164.9 123.9 161.9 162.7
178.8 161.3 182.0 165.8 213.1 177.4 159.3
a. Calculate the mean salary of the CFOs.
b. Base on measures of the center of the data; determine if the CFO salary data are skewed.
c. Construct a box and whisker plot and summarize the characteristics of the CFO salaries that it reveals