Question

A company had 110 employees whose salaries are summarized in the frequency distribution below. Find the mean salary.Salary ($) Employees5,001-10,000 2210,001-15,000 2015,001-20,000 2120,001-25,000 2325,001-30,000 24

Answer 1

Answer:

Mean salary=$17818.68

Step-by-step explanation:

Salary($)          Employees(f)

5001-10,000     22

10,001-15,000    20

15,001-20,000   21

20,001-25,000  23

25,001-30,000  24

We know that company had 110 employees so ∑f should be equal to 110.

∑f=22+20+21+23+24=110

The mean salary can be computed as

$xbar=\frac{sum(fx)}{sum(f)}$

The x be the midpoint can be calculated by taking the average of upper and lower class limit.

Class Interval Frequency(f)       x                fx

5001-10,000            22               7500.5     165011

10,001-15,000          20               12500.5     250010

15,001-20,000   21               17500.5     367510.5

20,001-25000   23              22500.5     517511.5

25,001-30,000 24      27500.5 660012

fx can be computed by multiplying each x value with frequency in the respective class.

∑fx=165011+250010+367510.5+517511.5+660012=1960055

$xbar=\frac{1960055}{110}=17818.68$

Thus, the mean salary is $17818.68.