Let X denote the annual salary of university professors in t

Let X denote the annual salary of university professors in the United States, measured in thousands of dollars. Suppose that the average salary is 52.3, with a standard deviation of 14.6. Find the mean and variance when salary is measured in dollars.

Solution

Mean= 52.3 thousand dollars

Variance=(standard dev)²=14.6² =213.6 thousand dollars