Here Are the Summary Statistics for the Monthly Payroll for an Accounting

question 65

Multiple Choice

Here are the summary statistics for the monthly payroll for an accounting firm: lowest salary = $30,000,mean salary = $70,000,median = $50,000,range = $120,000,IQR = $60,000,first quartile = $35,000,standard deviation = $40,000.
Do you think the distribution of salaries is symmetric,skewed to the left,or skewed to the right? Explain why.

• A)Skewed to the right;mean is higher than median.
• B)Skewed to the left;mean is lower than median.
• C)Symmetric,mean is higher than median.
• D)Skewed to the left,mean is higher than median.
• E)Skewed to the right,mean is lower than median.

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Definitions:

Bankruptcy Proceedings

The legal process through which individuals or entities unable to meet their financial obligations can seek relief from some or all of their debts.

Transferred Property

Property or assets that have been legally moved from one owner to another, through sale, gift, inheritance, or other means of conveyance.

Discharge

The termination of an obligation. In bankruptcy, a discharge terminates the debtor's obligation to pay the debts discharged by the court.

Termination

The act of ending something, such as a contract, employment, or agreement.