for increment of 1000:
new value X =Y+1000
mean E(X)=E(Y)+1000
medium =median(Y)+1000
std deviation SD(X)=SD(Y)
for increment in 5%
X=1.05Y
mean E(X)=1.05*E(Y)
median =1.05/median(Y)
std deviation =1.05*SD(Y)
therefore :
change in | increase of $1000 | increase of 5% |
mean | increase by 1000 | increase by 5% |
median | increase by 1000 | increase by 5% |
std deviation | does not change | increase by 5% |
Problem 2 Imagine a database from the Gallogly College of Engineering that contained the starting salaries...
Problem 2 Imagine a database from the Gallogly College of Engineering that contained the starting salaries for a sample of Spring 2018 graduating engineers. Recreate the following table and fill out at the intersections what happens to each of the sample statistics when every salary is altered by the specified amount. Due to an increase in every salary b $1000 5% Change in Mean Median Standard deviation
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