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01 May 2008, 10:21
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Is the standard deviation of the salaries of Company Y’s employees greater than the st. devation of the salaries of Company Z’s employees?
(1). The average salary of company Y’s employees is greater than the average salary of Company Z’s employees.
(2). The median salary of company Y’s employees is greater than the median salary of Company Z’s employees.
I think it' s E but I need the guru's to weigh in.
(1). The average salary of company Y’s employees is greater than the average salary of Company Z’s employees.
(2). The median salary of company Y’s employees is greater than the median salary of Company Z’s employees.
I think it' s E but I need the guru's to weigh in.
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01 May 2008, 11:47
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SD is measure of how far the the values are from average value.
Statement 1:
Tells us that the average salary of company Y’s employees is greater than the average salary of Company Z’s employees.
Statement 2:
Tells us the median salary of company Y’s employees is greater than the median salary of Company Z’s employees.
Both of these condition can be true say Y has 3 employee has Z has 1000. Moreover 3 of Y's employees are paid 1000000 each. While 1000 employees in Z are paid salary between 100 and 200. In this case although average and median of salary of company Y's employees are more but SD is less.
Similarly we can also create a counter example.
So information given above is not sufficient.
Answer E.
Statement 1:
Tells us that the average salary of company Y’s employees is greater than the average salary of Company Z’s employees.
Statement 2:
Tells us the median salary of company Y’s employees is greater than the median salary of Company Z’s employees.
Both of these condition can be true say Y has 3 employee has Z has 1000. Moreover 3 of Y's employees are paid 1000000 each. While 1000 employees in Z are paid salary between 100 and 200. In this case although average and median of salary of company Y's employees are more but SD is less.
Similarly we can also create a counter example.
So information given above is not sufficient.
Answer E.
01 May 2008, 11:53
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If I didn't have a lot of time left for this question, I'd immediately guess E based on the fact that SD gives us information about the spread of distribution. Average/Median don't tell you too much about the spread.
If you had a few minutes to work on this:
1) AVG(Y) > AVG(Z)
Lets pick values for two different sets Y,Z.
Z: 4,4,4 => average is 4
Y: 5,5,5 => average is 5
Standard deviation is ZERO for Z and for Y. SD(Y) is not greater than SD(Z).
Now try different values.
Z: 4,4,4 => average 4
Y: 4,5,6 => average 5
SD(Y) is greater than SD(Z).
Statement one is not sufficient.
2) MED(Y) > MED(Z)
Pick values again.
Z: 4,4,4 => median is 4
Y: 5,5,5 => median is 5
Standard deviation is ZERO for both Z and for Y. SD(Y) is not greater than SD(Z).
Now try different values.
Z: 4,4,4 => median is 4
Y: 4,5,6 => median is 5
SD(Y) is greater than SD(Z).
Statement two is not sufficient.
3) Statement 1 and Statement 2
Notice that I used the same numbers for testing statement 1 and statement 2. In my example the AVG(Y) > AVG(Z) and MED(Y) > MED(Z) and you still get two different answers. So statement 1 and statement 2 together are not sufficient.
Answer: E
If you had a few minutes to work on this:
1) AVG(Y) > AVG(Z)
Lets pick values for two different sets Y,Z.
Z: 4,4,4 => average is 4
Y: 5,5,5 => average is 5
Standard deviation is ZERO for Z and for Y. SD(Y) is not greater than SD(Z).
Now try different values.
Z: 4,4,4 => average 4
Y: 4,5,6 => average 5
SD(Y) is greater than SD(Z).
Statement one is not sufficient.
2) MED(Y) > MED(Z)
Pick values again.
Z: 4,4,4 => median is 4
Y: 5,5,5 => median is 5
Standard deviation is ZERO for both Z and for Y. SD(Y) is not greater than SD(Z).
Now try different values.
Z: 4,4,4 => median is 4
Y: 4,5,6 => median is 5
SD(Y) is greater than SD(Z).
Statement two is not sufficient.
3) Statement 1 and Statement 2
Notice that I used the same numbers for testing statement 1 and statement 2. In my example the AVG(Y) > AVG(Z) and MED(Y) > MED(Z) and you still get two different answers. So statement 1 and statement 2 together are not sufficient.
Answer: E
