Reconsider the previous exercise. The monthly salaries of the three people working in a small firm are
Question:
Reconsider the previous exercise. The monthly salaries of the three people working in a small firm are $3,500, 4,000, and $4,500. Suppose the firm makes a profit and everyone gets a $100 raise. How, if at all, would the standard deviation of the three salaries change?
A. The standard deviation would stay the same.
B. The standard deviation would increase.
C. The standard deviation would decrease.
D. Cannot be answered without doing calculations.
Previous exercise
The monthly salaries of the three people working in a small firm are $3,500, $4,000, and $4,500. Suppose the firm makes a profit and everyone gets a $100 raise. How, if at all, would the average of the three salaries change?
Step by Step Answer:
Introduction To Statistical Investigations
ISBN: 9781118172148
1st Edition
Authors: Beth L.Chance, George W.Cobb, Allan J.Rossman Nathan Tintle, Todd Swanson Soma Roy