Show Me the Money Paper

Topics: Skewness, Standard deviation, Median Pages: 2 (304 words) Published: December 18, 2012
Show me the money By Semran Thamer

The histogram that shows the salaries of the Jacksonville Jaguars in 2009 shows data that is skewed right. There are two major outliers which are, $13,100,000, and $12,367,500, which are unusual because they are of a much higher amount than what is usually earned by the rest of the team. The bulk of the data lies in amounts that range from $300,000 to $1,000,000. The shape of the data represents a bell curve, because most of the salaries are less than $1,000,000.

Standard Salaries Data
Mean- $2,006,742.122
Median- $1,016,630
Standard Deviation- $2,741,746.033

Salaries with $100,000 Bonus Data
Mean- $2,106,742.122
Median- $1,116,630
Standard Deviation- $2,741,746.033

With the $100,000 bonus, the mean and the median increased by $100,000, because we increased all the salaries by $100,000. However, the standard deviation was not affected, because the distribution of data was not affected.

Salaries with 20% increase Data
Mean- $2,408,090.547
Median- $1,219,956
Standard Deviation- $3,290,095.24

With a 20% increase, the mean of the salaries increased by $401,348. The Median increased by $203,326. The standard deviation increased by $548,349. The increases that occurred with the added 20% changed the mean, median, and standard deviation by increasing it 20%. The standard deviation in this case changed, because the distribution of data was affected directly, by 20%. As a statistician who earns $500,000, I wouldn’t take a preference, because either way I would earn the same amount of $600,000. However, if I were to get promoted in the future, I would prefer the 20% increase, because I would gain more money.
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