SOLUTION: Someone please explain/show/ help me with this.....it is homework due tonight and I am LOST..... The annual incomes of the five presidents of TMV Industries are: 125,000.,128,00

Question 115914: Someone please explain/show/ help me with this.....it is homework due tonight and I am LOST.....
The annual incomes of the five presidents of TMV Industries are: 125,000.,128,000.,122,000.,133,000.,140,000., consider this population.
a) What is the range?
b) What is the arithmetic income?
c) What is the population variance? The standard deviation?
d) The annual incomes of the officers of another firm similiar to TMV Ind. were also studied.The mean was 129,000., and the standard deviation 8,612. Compare the means and dispersions in the two firms.
Answer by tutor_paul(519) (Show Source): You can put this solution on YOUR website!
a) RANGE is highest minus lowest - you can figure that out :-)
--------------------------------
b) "arithmetic income" makes no sense - do you mean arithmetic mean income? if so, add up all the salaries and divide the result by the total number of salaries (5).
--------------------------------
c) The variance is computed as the average squared deviation of each number from its mean. In this case, the mean is 129600. So the formula to find the variance is:

you can do the math.
---------------------------------
c) The standard deviation is simple - it's just the square root of the variance.
---------------------------------
d)the mean salary is higher at TMV - compare your answer for standard deviation from part (c) to comment on the dispersion.
---------------------------------
Good Luck,
tutor_paul@yahoo.com
RELATED QUESTIONS
Can someone please help me. This is due tonight and it is the only one that I cannot get. (answered by rfer,Earlsdon)

If PR is the diameter of the circle, explain how you would convince someone that... (answered by solver91311)

Hello, Can someone please help this is due tonight I am confused. I have a total of 5... (answered by richwmiller)

Please help me! I am so confused on this, I have tried it several times but its just not... (answered by josgarithmetic)

Please help me! I am so confused on this, I have tried it several times but its just not... (answered by josgarithmetic,MathTherapy)

We are studying chapter 3 in survey of math w/apps, but this question is not in the book. (answered by RAY100)

Can someone please help me with this. It is due tonight before midnight and I am so... (answered by stanbon,rothauserc)

I have a homework question that is due in 4 hours and I have tried to figure it out with... (answered by tutor_paul)

Solve using the five-step problem-solving process. Show all steps necessary to arrive at... (answered by mananth)