The salaries in a small company are $500,000 $25,000 $25,000, $125,000,$100,000 and $25,000. Find the mean, median, mode and range of the salaries. Which measure best represents the date?

Question

The salaries in a small company are $500,000 $25,000 $25,000, $125,000,$100,000 and $25,000. Find the mean, median, mode and range of the salaries. Which measure best represents the date?

Answer 1

mode is $25,000

median is the middle salary. since there are 6, the median is calculated by averaging the 3rd and 4th highest salaries (100,000+25,000)/2 = $62,500

mean is the average of all 6: $245,833.33