Answer:
Mean salary=$17818.68
Step-by-step explanation:
Salary($) Employees(f)
5001-10,000 22
10,001-15,000 20
15,001-20,000 21
20,001-25,000 23
25,001-30,000 24
We know that company had 110 employees so ∑f should be equal to 110.
∑f=22+20+21+23+24=110
The mean salary can be computed as
[tex]xbar=\frac{sum(fx)}{sum(f)}[/tex]
The x be the midpoint can be calculated by taking the average of upper and lower class limit.
Class Interval Frequency(f) x fx
5001-10,000 22 7500.5 165011
10,001-15,000 20 12500.5 250010
15,001-20,000 21 17500.5 367510.5
20,001-25000 23 22500.5 517511.5
25,001-30,000 24 27500.5 660012
fx can be computed by multiplying each x value with frequency in the respective class.
∑fx=165011+250010+367510.5+517511.5+660012=1960055
[tex]xbar=\frac{1960055}{110}=17818.68[/tex]
Thus, the mean salary is $17818.68.
