Following Is the Five Number Summary of the Hourly Wages

question 17

Essay

Following is the five number summary of the hourly wages ($) for sales managers
displayed in question 1. $$\begin{array} { | c | c | c | c | c | } \hline \text { Min } & \text { Q1 } & \text { Median } & \text { Q3 } & \text { Max } \\\hline 20.94 & 37.64 & 44.77 & 49.34 & 67.11 \\\hline\end{array}$$ Suppose there had been an error and that the lowest hourly wage for sales managers was
$18.50 instead of $20.94. Indicate how this change would affect the following summary
statistics (increase, decrease, or stay about the same):
A. Mean
b. Median
c. Range
d. IQR
e. Standard deviation

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Definitions:

Schematic

Schematic refers to a simplified representation or diagram used to make complex concepts easier to understand.

Chunk Information

A strategy for improving memory by organizing information into familiar, manageable units or chunks.

Nonsense Syllables

Meaningless sets of two or more letters used in psychological experiments to study memory, learning processes, and the forgetting curve.

Prior Exposure

The phenomenon by which previous experience or contact with a stimulus influences one's response or reaction to it in the future.