Which of the following best describes how to calculate the mean salary for women in the finance department?
A
Add the salaries of all employees in the company and divide by the total number of employees in the company.
B
Add the salaries of all women in the finance department and divide by the number of women in the finance department.
C
Add the salaries of all women in the company and divide by the total number of women in the company.
D
Add the salaries of all employees in the finance department and divide by the total number of employees in the finance department.
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1
Identify the specific group for which you want to calculate the mean salary. In this case, it is women in the finance department.
Collect the salary data for all women who work in the finance department. This means you only consider salaries of employees who meet both criteria: being a woman and working in finance.
Sum all the salaries of these women in the finance department. Mathematically, this is represented as \(\sum_{i=1}^{n} S_i\), where \(S_i\) is the salary of the \(i^{th}\) woman in finance and \(n\) is the total number of such women.
Count the total number of women in the finance department, which is \(n\) in the formula above.
Calculate the mean salary by dividing the total sum of salaries by the number of women in the finance department, using the formula: \(\text{Mean Salary} = \frac{\sum_{i=1}^{n} S_i}{n}\).