SOLUTION: The annual incomes of the five vice presidents of TMV Industries are: $125,000; $128,000; $122,000; $133,000; and $140,000. Consider this a population. a) What is the range? b)

Question 1190409: The annual incomes of the five vice presidents of TMV Industries are: $125,000; $128,000; $122,000; $133,000; and $140,000. Consider this a population.
a) What is the range?
b) What is the arithmetic mean income?
c) What is the population variance? The standard deviation?
d) The annual incomes of officers of another firm similar to TMV Industries 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 Boreal(15235) (Show Source): You can put this solution on YOUR website!
$125,000; $128,000; $122,000; $133,000; and $140,000.
range of these is $18000.
mean is $129,600, the sum divided by 5
the sd sigma is $6343.50
the variance is the square of that or 40,239,992.25 dollars^2
-
They have similar means (the first is slightly higher) and the variance is less in the first.
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