Estimate for the mean salary

Reference no: EM131816527

A New York Times article in July 2004 was subtitled, "Symphony Orchestras Are Going Begging. So Why Are Top Conductors Getting Rich?" To make his point, the journalist reported compensations for various music directors "derived from the latest IRS forms publicly available," which were from around the year 2002.

195_compensations for various music directors.png

a. The article mentions that "among the 18 American orchestras with 52-week contracts, at least 7 pay their music directors more than $1 million . . ." If 7 of the 18 directors receive more than $1 million, what percentage is this?

b. What percentage of the six directors listed in the table receive more than $1 million?

c. Use software to calculate the mean of the six directors' salaries reported.

d. Use software to calculate the standard deviation of the six directors' salaries reported.

e. Explain why the mean you calculated is not necessarily a good estimate for the mean salary of all 18 American orchestras' directors.

Reference no: EM131816527

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