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Average.GmatPrep.Mean of salary

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Manager
Manager
avatar
Joined: 19 Jun 2009
Posts: 141
Location: India
Concentration: Strategy, General Management
GMAT 1: 650 Q51 V27
GMAT 2: 710 Q48 V39
GPA: 3.2
WE: Engineering (Computer Hardware)
Followers: 5

Kudos [?]: 17 [0], given: 21

Average.GmatPrep.Mean of salary [#permalink] New post 30 Mar 2010, 19:28
00:00
A
B
C
D
E

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct 100% (03:53) wrong based on 1 sessions
Tried to search for this problem in DS section, could not find.

Probably solution is easy, I am missing something here.

Image
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I am ready to fall, but not before I fly.

Intern
Intern
avatar
Joined: 29 Nov 2009
Posts: 26
Location: Bangalore - INDIA
Schools: Duke, NUS,Rutgers
WE 1: Health & Life Science
Followers: 0

Kudos [?]: 6 [0], given: 3

Re: Average.GmatPrep.Mean of salary [#permalink] New post 30 Mar 2010, 21:54
we can solve this question using weighted averages.

The formula we use in weighted average is N1 / N2 = D2 / D1

In the given problem, N1 - Manger & D1 = 5000, N2 - Director & D2 = 15000

Now as per the formula

N1/N2 = D2 / D1 = 15000/ 5000 = 3 / 1

converting above number to percents we get 75% / 25 %

ie. Mangers = 75% , Directors = 25%..

Hence answer is C

Hope this will help..correct me if my reasoning is wrong!!!!!
Manager
Manager
avatar
Joined: 19 Jun 2009
Posts: 141
Location: India
Concentration: Strategy, General Management
GMAT 1: 650 Q51 V27
GMAT 2: 710 Q48 V39
GPA: 3.2
WE: Engineering (Computer Hardware)
Followers: 5

Kudos [?]: 17 [0], given: 21

Re: Average.GmatPrep.Mean of salary [#permalink] New post 30 Mar 2010, 22:00
divakarbio7 wrote:
we can solve this question using weighted averages.
The formula we use in weighted average is N1 / N2 = D2 / D1
................................................
Hope this will help..correct me if my reasoning is wrong!!!!!


Wow, that was pretty cool.

I have just forgotten this formula of weighted average - N1/N2 = D2/D1. I can't seem to recollect it. Can you please shed some more light on it ? Like, what is N1, N2, & how it works ?

Thanks. :)
_________________

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Intern
Intern
avatar
Joined: 29 Nov 2009
Posts: 26
Location: Bangalore - INDIA
Schools: Duke, NUS,Rutgers
WE 1: Health & Life Science
Followers: 0

Kudos [?]: 6 [0], given: 3

Re: Average.GmatPrep.Mean of salary [#permalink] New post 30 Mar 2010, 22:24
Hi,

you can get more information about weighted average in Manhattan Book 5 - word translations - chapter 6.
For your reference i have attached the chapters.... ( refer weighted average 1 & 2 )
Attachments

Weighted Avergae2.gif
Weighted Avergae2.gif [ 51.88 KiB | Viewed 1290 times ]

Weighted Avergae1.gif
Weighted Avergae1.gif [ 50.48 KiB | Viewed 1288 times ]

1 KUDOS received
Intern
Intern
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Joined: 29 Nov 2009
Posts: 26
Location: Bangalore - INDIA
Schools: Duke, NUS,Rutgers
WE 1: Health & Life Science
Followers: 0

Kudos [?]: 6 [1] , given: 3

Re: Average.GmatPrep.Mean of salary [#permalink] New post 30 Mar 2010, 22:24
1
This post received
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Final one!!!!!
Attachments

Weighted Avergae3.gif
Weighted Avergae3.gif [ 42.59 KiB | Viewed 1289 times ]

Manager
Manager
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Joined: 05 Mar 2010
Posts: 220
Followers: 1

Kudos [?]: 23 [0], given: 8

Re: Average.GmatPrep.Mean of salary [#permalink] New post 31 Mar 2010, 01:11
@ divakarbio7

Thanks for your fantastic efforts.
I still have some doubts if you can clear.

Let say the average salary is x, then managers salary is x-5000 and directors is x+15000

now you have taken the ratio of 15000 to 5000. now lets assume the managers salary is x+5000 in statement 1 (managers earn 5000 more than the average) and directors earn same x+15000. Then what would be the answer?

Can you please mention the formula with explanation. That would be very helpful!

Thanks
_________________

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Intern
Intern
avatar
Joined: 29 Nov 2009
Posts: 26
Location: Bangalore - INDIA
Schools: Duke, NUS,Rutgers
WE 1: Health & Life Science
Followers: 0

Kudos [?]: 6 [0], given: 3

Re: Average.GmatPrep.Mean of salary [#permalink] New post 01 Apr 2010, 03:03
hi

if we assume the average salary of Manager is 5000+, & as given Directors will be 15000+, then as per my knowledge we cannot use the weighted average formula.
However I am not sure as to how to solve your questions. sorry....

you can also refer below URL, where the same problem is solved in different approach
gmat-prep-test-92076.html
Manager
Manager
avatar
Joined: 05 Mar 2010
Posts: 220
Followers: 1

Kudos [?]: 23 [0], given: 8

Re: Average.GmatPrep.Mean of salary [#permalink] New post 01 Apr 2010, 03:32
divakarbio7 wrote:
hi

if we assume the average salary of Manager is 5000+, & as given Directors will be 15000+, then as per my knowledge we cannot use the weighted average formula.
However I am not sure as to how to solve your questions. sorry....

you can also refer below URL, where the same problem is solved in different approach
gmat-prep-test-92076.html



i got the solution i wanted on the link.
Thanks again
_________________

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Re: Average.GmatPrep.Mean of salary   [#permalink] 01 Apr 2010, 03:32
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