SOLUTION: Could someone please help me with this problem please? I am having a difficult time understanding it. Thank you so much!!! 26.Employee Salaries The salaries of 10 employees

Question 477282: Could someone please help me with this problem please? I am having a difficult time understanding it. Thank you so much!!!

26.Employee Salaries The salaries of 10 employees of a small company follow.
$28,000
$64,000
25,000
24,000
31,000
27,000
26,000
81,000
26,000
29,000
Determine the
a) mean.
b) median.
c) mode.
d) midrange.
e) If the employees wanted to demonstrate the need for a raise, which average would they use to show they are being underpaid: the mean or the median? Explain.
f) If the management did not want to give the employees a raise, which average would they use: the mean or the median? Explain.

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
The salaries of 10 employees of a small company follow.
$28,000
$64,000
25,000
24,000
31,000
27,000
26,000
81,000
26,000
29,000
Determine the
a) mean = 36,100
b) median = 27,500
c) mode 26,000
d) midrange (81000+24000)/2 = 52,500
e) If the employees wanted to demonstrate the need for a raise, which average would they use to show they are being underpaid: the mean or the median? Explain. Median--it is the middle salary. Higher salaried employees have the
effect of raising the group average, but half of the workers get less than
the median pay.
------------------------
f) If the management did not want to give the employees a raise, which average would they use: the mean or the median?
Explain. Mean. It masks the low pay of the bottom half of the work force.
=================
Cheers,
Stan H.
===============

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