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A company has the pay scales below , with the percent of employees receiving that pay listed. Find the best value to represent an average salary at this company. ( round to the nearest dollar ) Job Salary Percent of Employees Entry 23,264 60% 47,480 38% 117,027 2%

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Answer:

$34,341

Step-by-step explanation:

Given :

Job Salary Percent of Employees Entry 23,264 60% 47,480 38% 117,027 2%

To obtain the best value for the mean salary ; we obtain the weighted average ;

Σ(salary * weight factor) / Σ weight

[(23264 * 0.60) + (47480 * 0.38) + (117027 * 0.02)] ÷ (0.60 + 0.38 + 0.02)

= 34341.34 / 1

Average salary = 34341.34

= $34,341 ( nearest dollar)

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