SP18 MTH 2651-Elementary Statistics Erin Pankey1 4/318 6:08 PM Test Chapter 4 Te

Question

SP18 MTH 2651-Elementary Statistics Erin Pankey1 4/318 6:08 PM Test Chapter 4 Test Time Remaining: 00 26 53 Submit Test This Question: 1 pt 170f 20 (14 complete) ? This Test: 20 pts possible For a random varlable x, a new random variable y can be created by applying a inear transformation y a + bx, where a and b are constants. If the random variablex has mean py and standard devation ox hen the mean, variance and standard deviation of y are givern by the following formulas y®b ? @y?blox The mean annual salary f r employees a acompany is $34,000 At the end of the year, each employee receves a S1000 bons and a 6% rase(based on saay What is the new mean anniual salary (including the bonus and raise) for the employees? The new mean annual salary is answer in the answer box Average: 0.040896 Count 6 Su0245376

Explanation / Answer

Since each employee receives a $1000 bonus and a 6% raise, Mean will also increase in the same proportion. Hence,

New mean annual salary = $ (34000*1.06 + 1000) = $ 37040

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