Professors at a Local University Earn an Average Salary of $80,000

question 1

Multiple Choice

Professors at a local university earn an average salary of $80,000 with a standard deviation of $6,000. With the beginning of the next academic year, all professors will get a 2% raise. What will be the average and the standard deviation of their new salaries?

• A) $80,000 and $6,120.
• B) $81,600 and $6,000.
• C) $81,600 and $6,120.
• D) $82,000 and $6,200.

---

Definitions:

Tariffs

Taxes levied on imported goods and services, intended to make imported goods more expensive to protect domestic industries.

Quotas

Limits set by a government on the amount of a specific good that can be imported or exported during a given time frame, often to protect domestic industries.

Pirating

The unauthorized use or reproduction of another's work without permission.

Multinational Companies

Businesses that operate in multiple countries beyond their home country's borders.