A small town has an adult population of 100. One person is a multimillionaire who makes 5 million dollars a year. The mean annual salary in the town is $74,750. Is this a fair measure of typical salary in the town? What is the mean salary of the other 99 adults?
i am so confused on this problem i have been working on it since thursday!! please if you know it please tell me what you got and how you got it!! thanks!!!
2007-09-30 05:38:40 · 7 answers · asked by ........ 3 in Education & Reference ➔ Homework Help
this question is, i think, not close to reality...
the mean of the whole town is 74750, multiplied by 100 to get the total salary of the whole town.. 7475000... we then subtract the salary of the rich guy, which is 5M... we get 2475000..divided by the remaining 99...
the answer is $25000 a year...
2007-09-30 05:45:38 · answer #1 · answered by bic 2 · 1⤊ 0⤋
It is not a fair measure of the typical salary in town becuase the one who makes five million skews the line way over to the higher end.
You would have the following eqaution to figure out the mean salary:
[(person x wage the person makes)+(person2 x wage of person 2)+(personx x wage of person x)]/100 = 74750
Since five million is such a large number, all the other numbers would have to be relatively small to eqaul a mean wage of 74750.
the equation would simplify to this:
[1x5million + 99x Wage ]/100 = 74750
multiply both sides by 100, equation becomes
5000000 + 99(wage) = 7475000
subtract 5 million from both sides, equation becomes
99(wage) = 2475000
Divide by the number of people in the adult population (99):
wage = 2475000/99 = approximately $24,750
This average wage is far different from the average wage of $74750 because of the $5 million a year adult. See why it is not a fair measure?
2007-09-30 12:53:53 · answer #2 · answered by Will G 3 · 0⤊ 0⤋
in order to solve for the mean salery of the other 99, you need to solve the following equation for x
99x + 5,000,000 = 74,750(100)
Whether or not the mean is a fair measure depends on what you want to do with the data.
2007-09-30 12:45:43 · answer #3 · answered by Paladin 7 · 0⤊ 0⤋
no for the first part, because the multimillionaire brings up the avergae ov everyone elses salary. for the second part it seems like there isnt enough info, i could be wrong tho...good luck!
2007-09-30 12:42:44 · answer #4 · answered by Anonymous · 0⤊ 0⤋
[1(5000000) + 99(x)] /100 = 74750
5000000+99x = 7475000
99x=2475000
Solve for x.
2007-09-30 12:43:41 · answer #5 · answered by hottotrot1_usa 7 · 0⤊ 0⤋
you have the mean....so multiply that by 100 and you get the sum....then you subtract 5 million from it and divide it by 99....thts ur answer
2007-09-30 12:43:48 · answer #6 · answered by ViVeK 1 · 0⤊ 0⤋
(5,000,000+99x)/100=74,750
5,000,000+99x=7,475,000
99x=2,475,000
x=25,000
The other 99 adults make $25,000 (on average) which is a fair amount.
2007-09-30 12:50:36 · answer #7 · answered by slobberknocker_usa 7 · 0⤊ 0⤋