The following data represent salaries, in thousands of dollars, for employees of a small company. Notice that
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(a) Make a histogram using the class boundaries 23.5, 69.5, 115.5, 161.5, 207.5, 253.5.
(b) Look at the last data value. Does it appear to be an outlier? Could this be the owners salary?
(c) Eliminate the high salary of 250 thousand dollars. Make a new histogram using the class boundaries 23.5, 32.5, 41.5, 50.5, 59.5, 68.5. Does this histogram reflect the salary distribution of most of the employees better than the histogram in part (a)?
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Related Book For
Understanding Basic Statistics
ISBN: 9781111827021
6th Edition
Authors: Charles Henry Brase, Corrinne Pellillo Brase
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