Question

Some of the fastest-growing jobs that earn the highest income and require a bachelor’s degree are listed in the following table with their median annual salaries for 2007. $$\begin{array}{|l|l|} \hline \text { OCCUPATION } & 2007 \text { MEDIAN ANNUAL SALARY, } \$ \\\ \hline \text { Network systems and data } & 68,224 \\\ \text { communications analysts } & {} \\\ \hline \text { Computer software engineers, } & 83,138 \\\ \text { applications } & {} \\\ \hline \text { Personal financial advisors } & 67,662 \\\ \text { Financial analysts } & 70,408 \\\ \text { Computer systems analysts } & 73,091 \\\ \hline \end{array}$$ a. Round each median salary to the nearest hundred. b. Round each median salary to the nearest thousand. c. Is the median salary of personal financial advisors as much as that of network systems and data communications analysts? Justify your answer.

Short answer

Answer: No, the median salary of personal financial advisors is not as much as that of network systems and data communications analysts because $67,662 < $68,224.

Step-by-step solution

Identify the Median Salaries

Here are the median annual salaries for the given occupations: - Network systems and data communications analysts: $68,224 - Computer software engineers, applications: $83,138 - Personal financial advisors: $67,662 - Financial analysts: $70,408 - Computer systems analysts: $73,091

Round to the nearest hundred

Now we will round each salary to the nearest hundred: - \(68,224\) rounded to the nearest hundred is \(68,200\) - \(83,138\) rounded to the nearest hundred is \(83,100\) - \(67,662\) rounded to the nearest hundred is \(67,700\) - \(70,408\) rounded to the nearest hundred is \(70,400\) - \(73,091\) rounded to the nearest hundred is \(73,100\) #b. Round each median salary to the nearest thousand.#

Round to the nearest thousand

Now we will round each salary to the nearest thousand: - \(68,224\) rounded to the nearest thousand is \(68,000\) - \(83,138\) rounded to the nearest thousand is \(83,000\) - \(67,662\) rounded to the nearest thousand is \(68,000\) - \(70,408\) rounded to the nearest thousand is \(70,000\) - \(73,091\) rounded to the nearest thousand is \(73,000\) #c. Is the median salary of personal financial advisors as much as that of network systems and data communications analysts? Justify your answer.#

Make a comparison

To answer this question, we will compare the median salaries of personal financial advisors (\(67,662\)) and network systems and data communications analysts (\(68,224\)): - Personal financial advisors: \(67,662\) - Network systems and data communications analysts: \(68,224\)

Justify the answer

From the comparison, we can conclude that the median salary of personal financial advisors is not as much as that of network systems and data communications analysts because \(67,662 < 68,224\).