SOLUTION: Please help me with this problem; Thank you ahead of time. The following data are the base salaries, in thousands of dollars, of 50 chief executive officers for a sample of comp

Question 942043: Please help me with this problem; Thank you ahead of time.
The following data are the base salaries, in thousands of dollars, of 50 chief executive officers for a sample of companies doing business with the state of Connecticut. That is, the first entry in the table below corresponds to a salary of $125,000.
125 157 113 127 201
165 145 119 148 158
148 168 117 105 136
136 125 148 108 178
179 191 225 204 104
205 197 119 209 157
209 205 221 178 247
235 217 222 224 187
265 148 165 228 239
245 152 148 115 150

Find the mean of the CEO salaries, in thousands of dollars, rounded to 2 decimal places.
Answer by mathmate(429) (Show Source): You can put this solution on YOUR website!

Given:
Salaries (in thousands, k$) of 50 CEO's.

Find:
Mean salary.

Solution:
1. Add all the salaries to get the sum of $8,467,000.
2. Divide the total by the number of CEO's (50) to get 169.34k$

Answer: The average salary is 169.34 k$
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