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»Accounting

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The pay rates for 3 people were the following numbers of dollars per hour: 8, 10.5, and 7. In Mexican pesos (if the exchange rate is 10 pesos per dollar), these pay rates are 80, 105, and 70 pesos per hour.

a. Compare the mean in dollars with the mean in pesos; don’t forget the units. Explain what multiplying each number in a data set by 10 does to the mean.

b. Compare the standard deviations in pesos and in dollars. Explain what multiplying each number in a data set by 10 does to the standard deviation.

The pay rates for 3 people were the following numbers

 
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