Question 337728: The average salary of management at a factory is $58,000 while the hourly workers have a mean yearly income 0f $21,500. If the ratio of hourly wage earners to managers is 85 to 7, what is the mean annual income of all employees at the factory?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! The average salary of management at a factory is $58,000 while the hourly workers have a mean yearly income 0f $21,500. If the ratio of hourly wage earners to managers is 85 to 7, what is the mean annual income of all employees at the factory?
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Ratio of managers to hourly is 85 to 7
Total average salary is (85*58000 + 7*21500)/(85+7) = $55,222.83
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Cheers,
Stan H.
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