Arithmetic Mean - GMAT Quantitative

Card 1 of 424

0
Didn't Know
Knew It
0
1 of 2019 left
Question

Salaries for employees at ABC Company: 1 employee makes $25,000 per year, 4 employees make $40,000 per year, 2 employees make $50,000 per year and 5 employees make $75,000 per year.

What is the average (arithmetic mean) salary for the employees at ABC Company?

Tap to reveal answer

Answer

The average is found by calculating the total payroll and then dividing by the total number of employees. frac{(1cdot 25,000)+(4cdot 40,000)+(2cdot 50,000)+(5cdot 75,000)}{1+4+2+5}

frac{25,000+160,000+100,000+375,000}{12} = frac{660,000}{12}= $55,000

← Didn't Know|Knew It →