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.
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.
2007-08-16 08:01:52 · 1 answers · asked by Manda Panda 1 in Education & Reference ➔ Homework Help
Simply average the salaries of the TMV group to determine the mean. So comparing the means is simple.
You can either use a formula to compute the standard deviation or, if you have Excel, you can use the stdev function. For example, if the salaries above were typed into cells a1 through a5 you could go to another cell and type =stdev(a1:a5) to get your answer. Of course, if you use Excel for the standard deviation you could use it for the average as well.
2007-08-16 08:14:21 · answer #1 · answered by dogsafire 7 · 0⤊ 0⤋