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What was the median annual salary for the employees at Compan

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What was the median annual salary for the employees at Compan  [#permalink]

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New post 21 Jun 2018, 08:20
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  5% (low)

Question Stats:

94% (00:39) correct 6% (00:40) wrong based on 364 sessions

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What was the median annual salary for the employees at Company X last year?


(1) Last year there were 29 employees at Company X.

(2) Last year 12 employees at Company X had an annual salary of $24,000.


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Re: What was the median annual salary for the employees at Compan  [#permalink]

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New post 21 Jun 2018, 08:32
Answer is E.
1) Tells us the number of employees, but nothing about their income (Not Sufficient)
2) Tells us the income of 12 of the 29 employees, however, we know nothing about the remaining 17 employees' income. (Not Sufficient)
1) & 2) Together: Not sufficient, as given that there are 29 employees, we would need to know where the 12 employees earning $24,000 lie in the spread of the income distribution.
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Re: What was the median annual salary for the employees at Compan  [#permalink]

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New post 21 Jun 2018, 08:49
We need the median annual salary.

Statement 1 gives us the number of employees. Without the annual salary of the 15th employee, we cannot answer the question. Statement 1 is insufficient.
Statement 2 gives us the annual salary of 12 employees. We don't know how many employees had the company last year, so statement 2 is insufficient.

The two statements together are still insufficient to answer the question. We know that we need to find the annual salary of the 15th employee but the we don't know if one of the 12 employees mentioned in the second statement was the one that had the median value.

The correct answer is E.
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Re: What was the median annual salary for the employees at Compan  [#permalink]

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New post 22 Jun 2018, 05:45

Solution



To find:
    • The median annual salary for the employees at Company X last year

Analysing Statement 1
    • As per the information given in statement 1, last year there were 29 employees at Company X
      o From this statement, we find no information about the salaries of any of those 29 employees
      o Hence, we can’t find out the median annual salary

Hence, statement 1 is not sufficient to answer the question

Analysing Statement 2
    • As per the information given in statement 2, last year 12 employees at Company X had an annual salary of $24,000
      o From this statement, we don’t find complete information about the salaries of all the employees

Hence, statement 2 is not sufficient to answer the question

Combining Both Statements
If we combine the information given in both the statements, we can write:
    • Last year there were 29 employees at Company X
    • Out of those 29 employees, 12 employees at Company X had an annual salary of $24,000

Even after combining the statements, we don’t find complete information about the salaries of all the employees

Hence, the correct answer is option E.

Answer: E
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Re: What was the median annual salary for the employees at Compan  [#permalink]

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New post 15 Jul 2018, 22:58
https://youtu.be/mcCBKiNOGLY
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Re: What was the median annual salary for the employees at Compan &nbs [#permalink] 15 Jul 2018, 22:58
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