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23 May 2020, 07:55
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D
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Difficulty:
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Question Stats:
77% (01:29) correct
23%
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wrong
based on 752
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If all the employees of a company fall into one and only one of 3 groups, X, Y, or Z, with 250, 100, and 20 members in each group, respectively, what is the average (arithmetic mean) weekly salary of all the employees of this company, if all employees are paid every week of the year?
(1) The average (arithmetic mean) annual salary of the employees in Group X is $10,000, in Group Y $15,000 and in Group Z $20,000.
(2) The total annual payroll is $4,400,000.
ID: 700136
DS21215
(1) The average (arithmetic mean) annual salary of the employees in Group X is $10,000, in Group Y $15,000 and in Group Z $20,000.
(2) The total annual payroll is $4,400,000.
ID: 700136
DS21215
yashikaaggarwal
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23 May 2020, 08:22
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Average of company's employee's weeakly salary = total/no. of persons*52 (given he is paid weekly so odd days of year doesn't matter)
Statement 1.
Group X has average salary of 10,000 with 250 members
=>Total of 250*10,000 = 2,500,000
Group Y has average salary of 15,000 with 100 members
=>Total of 100*15,000 = 1,500,000
Group Z has average salary of 20,000 with 20 members
=>Total of 20*20,000 = 400,000
Total = 4,400,000
Average= 4,400,000/370*52
=228.70 / week salary of an employee (sufficient)
Statement 2:
Average = 4,400,000/370*52
=228.70 / week salary of an employee (sufficient)
Answer should be D
Posted from my mobile device
Statement 1.
Group X has average salary of 10,000 with 250 members
=>Total of 250*10,000 = 2,500,000
Group Y has average salary of 15,000 with 100 members
=>Total of 100*15,000 = 1,500,000
Group Z has average salary of 20,000 with 20 members
=>Total of 20*20,000 = 400,000
Total = 4,400,000
Average= 4,400,000/370*52
=228.70 / week salary of an employee (sufficient)
Statement 2:
Average = 4,400,000/370*52
=228.70 / week salary of an employee (sufficient)
Answer should be D
Posted from my mobile device
26 Nov 2020, 07:14
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Bunuel
Given: All the employees of a company fall into one and only one of 3 groups, X, Y, or Z, with 250, 100, and 20 members in each group, respectively.
So, the total number of employees = 250 + 100 + 20 = 370
Target question: What is the average (arithmetic mean) weekly salary of all the employees of this company, if all employees are paid every week of the year?
Statement 1: The average (arithmetic mean) annual salary of the employees in Group X is $10,000, in Group Y $15,000 and in Group Z $20,000.
The weighted averages formula says: Weighted average of groups combined = (group A proportion)(group A average) + (group B proportion)(group B average) + (group C proportion)(group C average) + ...
So, the average ANNUAL salary of all employees = (250/370)($10,000) + (100/370)($15,000) + (20/370)($20,000)
Since we COULD calculate the average ANNUAL salary, we could also calculate the average WEEKLY salary (of course we wouldn't waste valuable time on test day doing so).
Since we could answer the target question with certainty, statement 1 is SUFFICIENT
Statement 2: The total annual payroll is $4,400,000.
So, the average ANNUAL salary of all employees = $4,400,000/370
This also means we could calculate the average WEEKLY salary.
Statement 2 is SUFFICIENT
Answer: D
Cheers,
Brent
