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Range - Problem 1
Here we need to find the range of salaries for a sports team. We are lucky because the salaries are already organized in order from smallest to biggest that’s going to be really useful. Remember the range means to take your highest value subtract your lowest value so in our case we will be doing 900 there it is 900,000.
So if you want to you can write it like this 900,000 they told me it was in thousands take away 28,000 and my final answer is going to be 872,000. Couple of things to be careful of when you are doing these types of problems first thing don’t write the answer 872, that’s kind of the answer but not really 900 take away 28 is 872 but don’t forget like you have to relate it back to the problem. We are talking about salaries so it needs to have a dollar sign, we are also told these are in thousands so it’s really important that your answer is in thousand.
Before we move on before I leave you guys think about what this means. On this sports team, I’m not I don’t know I just made this up so I don’t know if this is like a real life situation. The superstar or star player or whatever, this guy makes $900,000 a season that’s a good amount. This guy who is on the same team only makes 28,000 that’s a huge difference right? The difference is 872,000 this is actually what happens in the real world when it comes to how much money people make. There’s a huge range of salaries for any given sports team for most companies et cetera.
So it’s important that you guys think of range when you're thinking about the spread of a data set the spread of values and it’s especially applicable to when you are looking at salaries.