You have been asked to determine what the "typical" salary is for the employees at a small company.After looking at a list of the salaries,you note that the CEO and three vice-presidents make significantly more than any of the other 50 employees.Which descriptive statistic would be the LEAST affected by these four high salaries and would be the best measure to use to determine the "typical" salary?
A)mean
B)median
C)range
D)standard deviation

Question

Quizplus · Accepted Answer

The median would be the best choice because it is not affected by extreme values/outliers. In this case, the four high salaries of the CEO and vice-presidents would not skew the median value as it is solely based on the middle value of the data set. On the other hand, the mean would be heavily influenced by these high salaries and would not accurately represent the "typical" salary of the rest of the employees. The range and standard deviation would also be affected by the extreme values and not provide an accurate measure of the "typical" salary.

You Have Been Asked to Determine What the "Typical" Salary