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There are exactly 5 people in a bookstor...

There are exactly 5 people in a bookstore at 12:00 p.m. Each person earns an annual income that is between $ 30,000 and $35,000. No one enters or leaves the bookstroes until 12:15 p.m., when a professional athlete with an annual income of more that $ 1,000,000 enters the bookstore and joins the other 5 people. The mean, median , range and standard deviation of the annual incomes of the 5 people in the bookstore at 12:00 p.m., are calculated and compared to the same 4 statisties of the annual incomes of the 6 people in the bookstore at 12:15 p.m. If it can be determind, which of the 4 statistics changed the least?

A

Range

B

Mean

C

Median

D

Standard deviation

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem, we will analyze the statistics of the incomes of the people in the bookstore before and after the athlete enters. ### Step-by-step Solution: 1. **Identify the Income Range of the First 5 People:** Let the incomes of the 5 people (A, B, C, D, E) be represented as: - A, B, C, D, E where \( 30,000 < A, B, C, D, E < 35,000 \). 2. **Calculate the Mean, Median, Range, and Standard Deviation for the First 5 People:** - **Mean:** The mean is calculated as: \[ \text{Mean} = \frac{A + B + C + D + E}{5} \] - **Median:** Since there are 5 values, the median is the middle value: \[ \text{Median} = C \] - **Range:** The range is calculated as: \[ \text{Range} = E - A \] - **Standard Deviation:** The standard deviation is calculated using the formula: \[ \text{Standard Deviation} = \sqrt{\frac{(A - \text{Mean})^2 + (B - \text{Mean})^2 + (C - \text{Mean})^2 + (D - \text{Mean})^2 + (E - \text{Mean})^2}{5}} \] 3. **Add the Athlete's Income:** At 12:15 p.m., a professional athlete with an income \( X > 1,000,000 \) enters the bookstore. Now we have 6 people: A, B, C, D, E, and X. 4. **Calculate the New Statistics for the 6 People:** - **Mean:** The new mean is: \[ \text{New Mean} = \frac{A + B + C + D + E + X}{6} \] - **Median:** The new median will be the average of the 3rd and 4th values in the sorted list of incomes. Since \( X \) is much larger than A, B, C, D, and E, the new median will be: \[ \text{New Median} = \frac{C + D}{2} \] - **Range:** The new range is: \[ \text{New Range} = X - A \] - **Standard Deviation:** The new standard deviation is calculated similarly: \[ \text{New Standard Deviation} = \sqrt{\frac{(A - \text{New Mean})^2 + (B - \text{New Mean})^2 + (C - \text{New Mean})^2 + (D - \text{New Mean})^2 + (E - \text{New Mean})^2 + (X - \text{New Mean})^2}{6}} \] 5. **Compare the Changes in Statistics:** - The **mean** will increase significantly due to the addition of \( X \). - The **range** will also increase significantly because \( X \) is much larger than \( E \). - The **standard deviation** will likely increase because \( X \) is an outlier. - The **median** will not change much because \( C \) and \( D \) are still close to each other. ### Conclusion: After analyzing the changes in the statistics, we can conclude that the statistic that changed the least is the **median**.
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