Measure of Central Tendacy and Sampling

Measure of Central Tendency and Sampling
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Measure of Central Tendency
The median represents the middle observation in a data set and is the best measure to represent average income of an employee. The workers typically have different income levels depending on their duties, responsibilities, experience and ranking in an organization. The salary data is often skewed and it is not affected by outliers (extreme values) when using the median, but the mean is sensitive to the outliers. The salary of the CEO and the top management is much higher than the low-level workers, meaning that the mean would not be a suitable summary statistic. For instance, if the salary of the CEO increases by $100,000 the mean also increases while the median stays the same. The mean is likely to be higher since it is influenced by the larger values of the highly paid individuals and dwarfs the modest salaries of other workers.
Sampling
In simple random ...