The Following Is a List of Annual Salaries (In Dollars)

question 20

Multiple Choice

The following is a list of annual salaries (in dollars) for a group of mid-level managers in a large company. $\begin{array} { r r r r } \hline 98,000 & 115,000 & 75,000 & 88,000 \\65,000 & 107,000 & 72,000 & 71,000 \\88,000 & 57,000 & 88,000 & 73,000 \\97,000 & 85,000 & 87,000 & 73,000 \\93,000 & 88,000 & 71,000 & 65,000 \\87,000 & 83,000 & 75,000 & 44,000 \\81,000 & 76,000 & 81,000 & 89,000 \\\hline\end{array}$
-The top salary in the previous set was $115,000.Would you consider that salary

• A)a klinker
• B)an outlier
• C)neither because it falls well within three standard deviations of the mean

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Definitions:

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A serious crime, such as murder, rape, or robbery, that is punishable by imprisonment for more than one year or death.

Restrain Trade

Practices or agreements that restrict free competition in business and commerce.

Price Discrimination

The practice of selling the same product or service at different prices to different customers, not based on cost differences.

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