Question

Benjamin owns a small Internet business. Besides himself, he employs nine other people. The salaries earned by the employees are given next in thousands of dollars (Benjamin’s salary is the largest, of course):
(a) Determine the range, population variance, and population standard deviation for the data.
(b) Business has been good! As a result, Benjamin has a total of $25,000 in bonus pay to distribute to his employees. One option for distributing bonuses is to give each employee (including himself) $2500. Add the bonuses under this plan to the original salaries to create a new data set. Recalculate the range, population variance, and population standard deviation. How do they compare to the originals?
(c) As a second option, Benjamin can give each employee a bonus of 5% of his or her original salary. Add the bonuses under this second plan to the original salaries to create a new data set. Recalculate the range, population variance, and population standard deviation. How do they compare to the originals?
(d) As a third option, Benjamin decides not to give his employees a bonus at all. Instead, he keeps the $25,000 for himself. Use this plan to create a new data set. Recalculate the range, population variance, and population standard deviation. How do they compare to the originals?


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  • CreatedApril 27, 2015
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