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the file p02 45.xlsx contains the salaries of 30 business school professors at a (fictional) large state university. if you increased every professor's salary by $4,000, what would happen to the mean and median salary?



Answer :

We are increasing every professor's salary by 4000, let this new salary be Yi for every professor then mean of new salary Y will be

Y = 1/n∑Yi

Y  = 1/n∑(Xi + 4000)

Y  = 1/n(∑Xi + ∑4000/n)

Y  = X + 4000

Median Xm is the middle most value of the Professor's old salary, since new salary is

            Yi = Xi + 4000

then new median salary Ym will be

            Ym = Xm + 4000

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