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02 Jan 2024, 05:38
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SJKC
The answer would have changed in that case.
First check this post: https://anaprep.com/arithmetic-weights- ... d-average/
We found that the ratio of the weights S/F = 4/1 (weights of S and F)
What are S and F? The salary and fringe benefits ratio at the beginning of 1993. That is how we calculate percentage change - we say "Change divided by Initial value." So the weights are the "initial values" i.e. values at the beg of 1993.
We are given the changes that happen during 1993. So the ratio of Salary and fringe will be diff at the end of 1993 because they increase by diff percentages.
Say if they were 400 and 100 at the beginning of 1993, salary rose by 3% and became 412. Fringe rose by 5.5% and became 105.5
So new ratio (at the end of 1993) will be 412/105.5 = 3.9 approx
07 Aug 2024, 23:44
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shvm_sin7
Because one increased by 3% and another by 5.5% to give you an average increase of 3.5%. So weighted averages is the perfect concept to use here. WA is useful in many different types of questions. Check this video.
Identifying Weighted Averages: https://youtu.be/6r8b09Qvd4E?feature=shared
