The data in Table 3.15 is a random sample of the first-year salaries (in thousands of dollars) for a random sample of ten graduates from a university.

a. Calculate the mean first-year salary and the median first-year salary. Which of these two measures do you think best represents the center of the underlying data set? Why?

b. Calculate the standard deviation and the range for this set of data. Which of these two measures best represents the underlying data set? Why?

Table 3.15

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Random Sample of the First-Year Salaries for a Random Sample of Ten University Graduates 34 26 45 34 25 95 52 51 29 38