Homework Help: Statistics

Posted by Ashli on Wednesday, October 8, 2008 at 12:54am.

From a statistical point of view why a company might want to report its mean salary in one situation and its median salary in another?

Statistics - SraJMcGin, Wednesday, October 8, 2008 at 9:11am
Thank you for using the Jiskha Homework Help Forum. The following site explains the difference between the 2 terms:

http://blogs.payscale.com/ask_dr_salary/2006/10/mean_vs_median__2.html

Summary: Mean - the mathematical average, calculated by adding up all the pay rates in the data set and then dividing by the number of pay rates in the data set.

Median - the value of the pay rate that falls in the middle of all the rates in an ordered data set (that is to say, a data set which is ordered from lowest to highest rate).

Sra

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