The mean salary at a certain companyis $50,000 and the standard deviation is $5,
ID: 2915646 • Letter: T
Question
The mean salary at a certain companyis $50,000 and the standard deviation is $5,000.
1. Suppose everyone gets a $500 (flat)raise. What is the mean and standard deviation of the newsalaries?
Mean_____________
SD_______________
2. Suppose instead of a $500 flat raise,everyone gets a 10% raise. What is the mean and standard deviationof the new salaries?
Mean_____________
SD_______________
3. Suppose all employees get BOTH a $500flat raise and a 10% raise. What is the mean and standard deviationof the new salaries?
Mean_____________
SD_______________
Gain Communications sells equipmentto both military and civilian populations. The mean and variance ofthe number of military sales per year (X) are 5000 and 500,respectively . The mean and variance of the number of civiliansales (Y) per year are 1000 and 100,respectively.
4. If you assume that civilian and militarysales are independent, what is the mean and standard deviation ofthe total # sales per year for Gain Communications?
Mean___________
SD_____________
5. If civilian and military sales aredependent with a correlation of .6, what is the mean and standarddeviation of the total # sales per year?
Mean___________
SD_____________
6. Again suppose that military and civiliansales are independent. Suppose the profit from each civilian saleis $3500 and the profit from each military sale is $2000. What isthe mean and standard deviation of the total profit peryear?
Mean____________
SD______________
Suppose X is the outcome of the rollof any one die.
7. Find the mean and standard deviation ofX.
Mean____________
SD______________
8. Now roll one red die and one green die.Find the mean and standard deviation of the sum of the twooutcomes. (If you roll 6 on red and 5 on green, the sum is 6+5 = 11for example; if you roll 5 on red and 6 on green, the sum is also11.)
Note: USE THE INFO FROM #7 TO ANSWERTHESE Q’s. DO NOT DO THEM FROM SCRATCH.
Mean____________
SD_____________
9. Roll one red die and one green die. Whatis the mean and standard deviation of the DIFFERENCE of the twooutcomes? (If you roll 6 on red and 5 on green, thedifference is 6 - 5 = 1 for example; if you roll 5 on red and6 on green, the difference is 5 – 6 = -1.) Again use the infofrom #7 to answer this question. Do not do it from scratch.
Mean____________
SD______________
Explanation / Answer
The mean salary at a certain company is $50,000 andthe standard deviation is $5,000.
1. Suppose everyone gets a $500 (flat)raise. What is the mean and standard deviation of the newsalaries?
Mean: mean raises to 500 $ = 50500
SD: standard deviation couldnt be changed = 5000
2. Suppose instead of a $500 flat raise,everyone gets a 10% raise. What is the mean and standard deviationof the new salaries?
Mean: similar argument 10% means raise to 5000 =55000
SD : same 5000
3. Suppose all employees get BOTH a $500flat raise and a 10% raise. What is the mean and standard deviationof the new salaries?
Mean: raise 500+5000 = 55500
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