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24 July, 20:58

How do you calculate the approximate mean monthly salary of 100 graduates

monthly salary number of graduate

1001-1400 1

1401-1800 11

1801-2200 14

2201-2600 38

2601 3000 36.

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  1. 24 July, 21:17
    0
    The mean monthly salary of these 100 graduates is $2388.5

    Step-by-step explanation:

    First, lets make all of the salaries a set, so:

    S = {S1, S2, S3, S4, S5}

    where

    S1 = {1001-1400}

    S2 = {1401-1800}

    S3 = {1801-2200}

    S4 = {2201-2600}

    S5 = {2601-3000}

    Each element S1, S2, ..., S5 will have it's own mean, that will be the upper range + lower range divided by 2.

    So

    M (S1) = (1400+1001) / 2 = 2401/2 = 1200.5

    M (S2) = (1401+1800) / 2 = 3201/2 = 1600.5

    M (S3) = (1801+2200) / 2 = 4001/2 = 2000.5

    M (S4) = (2201+2600) / 2 = 4801/2 = 2400.5

    M (S5) = (2601+3000) / 2 = 5601/2 = 2800.5

    To find the approximate mean, now we calculate a weigthed mean between M (S1), M (S2), ..., M (S5)

    So the mean will be

    M = (M (S1) + 11*M (S2) + 14*M (S3) + 38*M (S4) + 36*M (S5)) / 100

    M = 238850/100

    M = 2388.5

    So the mean monthly salary of these 100 graduates is $2388.5
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