Consider the Five Number Summary of Hourly Wages ($) for a Sample

question 5

Multiple Choice

Consider the five number summary of hourly wages ($) for a sample of advertising / promotion managers. $$\begin{array} { | c | c | c | c | c | } \hline \text { Min } & \text { Q1 } & \text { Median } & \text { Q3 } & \text { Max } \\\hline 19.64 & 29.36 & 34.18 & 40.86 & 57.26 \\\hline\end{array}$$ Suppose there had been an error and that the lowest hourly wage was $15.50 instead of
$19) 64. This would result in

• A) an increase in the median.
• B) an increase in the standard deviation.
• C) a decrease in the range.
• D) a decrease in the IQR.
• E) an increase in the mean.

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Definitions:

Accounts Receivable

Funds due to a company from its clients for products or services provided on credit.

Customer Payments

The amounts of money received from customers in exchange for goods or services provided by a company.

Services Provided

Tasks or activities done for others, typically in exchange for payment.

Dance Instruction

The act of teaching the art of dance, encompassing a wide range of styles and techniques taught by skilled instructors.