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Descriptive Statistics

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The following data show the yearly salaries of a sample of MBA graduates.

MBA Student Salary (in $1,000)
A 78
B 87
C 80
D 100
E 104
F 88
G 82
H 85

a. Compute the mean yearly salary and give your answer in dollars.
b. Compute the standard deviation and give your answer in dollars.
c. Compute the 75th percentile and give your answer in dollars. Fully explain what the value that you have determined indicates.

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Solution Summary

Step by step method for computing descriptive statistics is given in the answer.

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