The Data Shown Below Represents the Annual Salaries, in Thousands

question 22

Essay

The data shown below represents the annual salaries, in thousands of dollars, of the ten administrators at your university. {165,170,170,180,195,200,205,220,240,300}
Suppose that each salary is increased by $5,000. How would this change the variance of the data set?

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Definitions:

StdDev

A rephrased term for standard deviation, indicating the degree to which individual data points in a set diverge from the mean value.

Mean

A mathematical average of a set of numbers, calculated by adding them all together and dividing by the number of numbers.

Median

In an arranged sequence of values, the median is the number situated in the middle, thus separating the collection of numbers into two segments.

StdDev

Short for Standard Deviation, it measures the amount of variance or dispersion in a set of values.