Question: I'm having an issue with this problem. I've already done all the necessary calculations and I'm pretty sure I have the right answer, but the
I'm having an issue with this problem. I've already done all the necessary calculations and I'm pretty sure I have the right answer, but the way the question is worded is confusing me. What exactly does "receiving on average $2k or more on the high end" mean and how should I word my explanation?
Problem 1 - The employees have indicated that 95% of employees in one of the departments are receiving higher salaries than any other department because their supervisor parties with them each weekend. Some employees only have an hourly rate which you have to calculate their yearly salary before completing the calculations.
Please calculate the 95% standard deviation for each department and indicate for me if any department is receiving on average $2k or more on the high end.
| Department 1 | Department 2 | Department 3 | Department 4 | Department 5 |
| $22,000 | 18,550 | B | 22600 | 19150 |
| $30,450 | 27,050 | 16700 | 29975 | 21555 |
| $23,780 | 26,785 | 30550 | 23800 | 27950 |
| A | 25050 | 29960 | B | 27550 |
| $27,500 | 26557 | A | 27700 | 25550 |
A $10/hr @ 40 hrs week @ 50 weeks a year
B $12/hr @ 35 hrs week @ 52 weeks a year
Is any department receiving on average $2k or more on the high end of the standard deviation using standard deviation at 95%? If so, which department and be sure to explain your answer.
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