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DSST Principles of Statistics Exam Prep

Category - DSST Statistics Free Test Prep

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The division of your company that you oversee contains 18 employees whose total salary last year was $855,000. The average salary of all company employees with the same level of responsibility and qualifications is $50,000. Is your department above or below the company average?
  1. Below by 20%
  2. Above by 10%
  3. Below by 5%
  4. Above by 15%
Explanation
Answer: C - The average salary of a worker in your department is $47,500, which is 5% below the company average. Divide your workers' total salary by the number of workers. There is a $2,500 difference between the average salary in your division and the company's average. $2,500 is 5% of $50,000.
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