The Distribution of Annual Salaries for 52 Employees in a Small

question 109

Essay

The distribution of annual salaries for 52 employees in a small manufacturing company has the following averages: the mean is $25,459, the median is $24,798 and the mode is $24,000. What is the total amount paid for employee salaries?

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Definitions:

Significance Level

The threshold below which a p-value is considered statistically significant, often set at 0.05 or 5%.

F Test

A statistical test used to compare the variances between two populations, often as part of the analysis of variance (ANOVA) for comparing means among multiple groups.

Null Hypothesis

A default hypothesis that there is no significant difference or relationship between specified populations, any observed difference being due to sampling or experimental error.

P-Value

The probability of observing data at least as extreme as the data observed, under the assumption that the null hypothesis is true.