i. For salaries of $102,000, $98,000, $25,000, $106,000 and $101,000, the median would be an appropriate average. ii. There are always as many values above the mean as below it.
iii. Three persons earn $8 an hour, six earn $9 an hour, and one earns $12 an hour. The weighted mean hourly wage is $9.
A) (i), (ii) and (iii) are all correct statements.
B) (i) and, (ii) are correct statements but not (iii).
C) (i) and, (iii) are correct statements but not (ii).
D) (ii) and, (iii) are correct statements but not (i).
E) (i), (ii) and (iii) are all false statements.

Question

Quizplus · Accepted Answer

- The median is more appropriate for the given salaries because it is less affected by the extreme values ($25,000) compared to the mean.- The statement about values above and below the mean is false; the distribution of values around the mean can be uneven.- The weighted mean calculation is correct: (3*$8 + 6*$9 + 1*$12) / 10 = $9.

I for Salaries of $102,000, $98,000, $25,000, $106,000 and $101,000