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Question 1 a) A small business employs 8 part-timers whose annual salaries received are: Salary $16,000 $15,000 $18,000 $15,000 $16,000 $17,000 $15,000 $7,000 Using your
Question 1 a) A small business employs 8 part-timers whose annual salaries received are: Salary $16,000 $15,000 $18,000 $15,000 $16,000 $17,000 $15,000 $7,000 Using your calculator or otherwise, i. Compute the mean, median, mode and standard deviation of the part-timer's salary. ii. Calculate the inter-quartile range. Show all your steps clearly. iii. Describe the shape of the distribution. iv. Which measures of centrality and dispersion would you choose to describe the distribution for salary? v. What are the values of the measures chosen in part (iv)? vi. Compute the coefficient of variation of the part-timer's salary. b) Based on the above 8 part-timers, the mean and standard deviation for their age are 48.33 years and 21.87 years respectively i. Calculate the coefficient of variation of the age of the part-timer. ii. By comparing the coefficient of variation for salary and age, which data has the greater variability? Explain?
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