Answer :
Answer:
Range of wages is £140 to £525.
Mean wage = £226
Step-by-step explanation:
Given:
Weekly wages paid to the staff are :
£245, £140, £525, £163, £195, £174 and £140.
To find:
Range of these wages = ?
Mean wage = ?
Solution:
First of all, let us learn about the range of wages and mean wage.
Range of wages has a minimum pay and a maximum pay.
Here, if we have a look £140 is the minimum pay and
£525 is the maximum pay.
So, range of wages is £140 to £525.
Mean wage means the average of all the wages given to the staff.
Mean is defined as the formula:
[tex]\text{Average/Mean =} \dfrac{\text{Sum of all the observations}}{\text{Number of observations}}[/tex]
Here, Sum of all observations mean sum of the wages of all the staff members.
Number of observations mean the number of staff members i.e. 7 here.
Applying the formula:
[tex]\text{Average/Mean =} \dfrac{\text{245+140+525+163+195+174+140}}{\text{7}} \\\Rightarrow \text{Average/Mean =} \dfrac{\text{1582}}{\text{7}}\\\Rightarrow \text{Average/Mean =} 226[/tex]
So, the answer is:
Range of wages is £140 to £525.
Mean wage = £226
