## Related questions with answers

Sample annual salaries (in thousands of dollars) for employees at a company are listed.

$48, 45,62,59,32,32,48,45,62,26,59,48,49.$

Each employee in the sample is given a $5\%$ raise. Find the sample mean and sample standard deviation for the revised data set.

Solution

VerifiedSalaries, for many, represent more than just monetary compensation; they indicate the value of an employee's skills, experience, and contributions to an organization. In the corporate world, analyzing and understanding salary data is pivotal. It aids in budget planning, assessing competitiveness in the job market, and gauging employee satisfaction.

Given a set of sample annual salaries for employees at a company, we get a snapshot of the financial landscape of that organization. Such data provides insights into the company's wage structure, distribution of earnings, and potential inequalities. However, what happens when there's a change to this structure, such as when each employee in the sample is awarded a $5\%$ raise?

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