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Statistics 113 - Measures of Center: 2. The average salary in a bank was publicized at...

Statistics 113 - Measures of Center:

2. The average salary in a bank was publicized at the end of the Fiscal Year 2018. The two "averages" reported were $156,900 and $355,300. Which of these numbers was the mean salary and which was the median price? Explain your answer.

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Answer #1

Some employees in the bank, like manager, director, have larger salary in comparison to other employees. That is there are some high outliers in the distribution of salary and it is skewed to right. Due to this,average pull upward.

That is mean is $355300 and median is $156900.

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