Payroll. Here are the summary statistics for the weekly payroll of a small company: lowest , mean first standard deviation = $400. IQR = $600, quartile = $350, salary = $700, median = $500, range = $1200, salary = $300 = 16 EXERCISES
a) Do you think the distribution of salaries is symmetric, skewed to the left, or skewed to the right? Explain why.
b) Between what two values are the middle 50% of the salaries found?
c) Suppose business has been good and the company gives every employee a $50 raise. Tell the new value of each of the summary statistics.
d) Instead, suppose the company gives each employee a 10% raise. Tell the new value of each of the summary statistics.