Following Is the Five Number Summary of the Hourly Wages

Essay

Following is the five number summary of the hourly wages ($) for sales managers
displayed in question 1. $$\begin{array} { | c | c | c | c | c | } \hline \text { Min } & \text { Q1 } & \text { Median } & \text { Q3 } & \text { Max } \\\hline 20.94 & 37.64 & 44.77 & 49.34 & 67.11 \\\hline\end{array}$$
Suppose there had been an error and that the lowest hourly wage for sales managers was
$18.50 instead of $20.94. Indicate how this change would affect the following summary
statistics (increase, decrease, or stay about the same):
a. Mean
b. Median
c. Range
d. IQR
e. Standard deviation