The hourly wages of a sample of eight individuals is given below. Individual | Hourly Wage (dollars) ---|--- A | 7.25 B | 9.50 C | 9.25 D | 13.50 E | 12.75 F | 8.25 G | 11.25 H | 8.75 For the sample, determine the following measures (in dollars). (Round your answers to the nearest cent.) (a) the mean (b) the standard deviation (c) the 75th percentile
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25, 8.25, 8.75, 9.25, 9.50, 11.25, 12.75, 13.50 (a) To find the mean, we add up all the hourly wages and divide by the number of individuals (8): (7.25 + 8.25 + 8.75 + 9.25 + 9.50 + 11.25 + 12.75 + 13.50) / 8 = 80.5 / 8 = 10.06 So, the mean is $10.06. (b) To find Show more…
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