SOLUTION: Please help me answer this problem, I am lost. A small company has 20 employees with a mean annual salary of $75,000. The company is planning to expand its activities by hiring

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Question 163004: Please help me answer this problem, I am lost.
A small company has 20 employees with a mean annual salary of $75,000. The company is planning to expand its activities by hiring an administrative assistant and a consultant with annual salaries of $50,000 and $95,000, respectively. What will the mean annual employee salary be if the company expands its workforce as planned?

Answer by scott8148(6628) About Me  (Show Source):
You can put this solution on YOUR website!
the mean is the arithmetic average of the salaries

for 20 people with an average of 75000, the total salaries is 20 * 75000 or 1500000

adding 2 people and 145000 in salaries brings the mean to 1645000/22 or 74772.73