Question

# Listed below are the top 10 annual salaries​ (in millions of​ dollars) of TV personalities. Find...

Listed below are the top 10 annual salaries​ (in millions of​ dollars) of TV personalities. Find the​ (a) mean,​ (b) median,​ (c) mode, and​ (d) midrange for the given sample data in millions of dollars. Given that these are the top 10​salaries, do we know anything about the salaries of TV personalities in​ general? Are such top 10 lists valuable for gaining insight into the larger​ population?

38.1

35.9

35

26

15.5

13.4

12

9.9

8.8

8.6

a. The mean is

nothing.

​(Type an integer or a​ decimal.)

b. The median is

nothing.

​(Type an integer or a​ decimal.)

c. Select the correct choice below and fill in any answer boxes in your choice.

A.The mode is

nothing.

​(Use a comma to separate answers as​ needed.)

B.

There is no mode.

d. The midrange is

nothing.

​(Type an integer or a​ decimal.)

Given that these are the top 10​ salaries, do we know anything about the salaries of TV personalities in​ general?

A.

Since the sample values are the 10​ highest, they give almost no information about the salaries of TV personalities in general.

B.

Since the sample values give information about one segment of the salaries of TV​ personalities, they give a lot of information about the salaries of TV personalities in general.

C.

Since the​ mean, median, and midrange are based on a small​ sample, no information is given on the salaries of TV personalities in general.

D.

Since the​ mean, median, and midrange are relatively reliable even with small​ samples, a lot of information is given on the salaries of TV personalities in general.

Are such top 10 lists valuable for gaining insight into the larger​ population?

A.

​No, because the​ mean, median, and midrange are based on a small sample

B.

​Yes, because such top 10 lists give partial information about the population

C.

​No, because such top 10 lists represent an extreme subset of the population rather than the larger population

D.

​Yes, because the​ mean, median, and midrange are relatively reliable even with small samples

The statistical software output for this problem is:

Hence,

a) Mean = 20.32

b) Median = 14.45

c) There is no mode.

d) Midrange = (8.6 + 38.1)/2 = 23.35

Since the sample values are the 10​ highest, they give almost no information about the salaries of TV personalities in general.

No, because such top 10 lists represent an extreme subset of the population rather than the larger population

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