Suppose the average yearly salary of an individual whose final degree is a master's is $46 thousand less than twice that of an
individual whose final degree is a bachelor's. Combined, two people with each of these educational attainments earn $113 thousand. Find the average yearly salary of an individual with each of these final degrees.
The average sallary of a Master's is 60 thousand and of a Bachellor's is 53 thousand.
Step-by-step explanation:
In order to solve this problem we first need to attribute variables to the unkown quantities. We will call the average salary of Master's "x" and the average salary of a Bachellor's "y". The first information the problem gives us is:
x = 2*y - 46
The second one is:
x + y = 113
We now have two equations and two variables, so we can solve the system. To do that we will use the value for x from the first equation on the second one. We have:
2*y - 46 + y = 113
3*y = 113 + 46
3*y = 159
y = 159/3 = 53
x = 2*(53) - 46 = 60
The average sallary of a Master's is 60 thousand and of a Bachellor's is 53 thousand.
This is because as the lowest value becomes larger, <em>one of the values becomes closer to the mean</em>, and as more numbers are closer to the mean, the standard deviation becomes lower.
