The Following Data Show the Yearly Salaries of a Random

question 148

Essay

The following data show the yearly salaries of a random sample of Chattanooga residents.

For the above sample,determine the following measures (Give your answer in dollars):
a.The mean yearly salary.
b.The standard deviation.
c.The mode.
d.The median.
e.The 70th percentile

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Definitions:

Retained Earnings

Profits that a company keeps or reinvests after dividends are paid out to shareholders, instead of distributing them completely.

Optimal Market Structure

A market configuration that maximizes efficiency and consumer welfare, often characterized by competitive markets, absence of monopolies, and minimal barriers to entry.

Technological Advance

The development of new technologies or the improvement of existing ones, which can lead to increased efficiency, productivity, and economic growth.

Oligopolistic Firms

Companies that operate in an oligopoly, a market structure characterized by a small number of firms controlling the majority of the market share.