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27 Mar 2017, 03:26
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Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
5%
(low)
Question Stats:
89% (01:41) correct
11%
(01:45)
wrong
based on 79
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Last year, Christine received 12 monthly paychecks. Each of the first four months’ paychecks was for $4500, and each of the remaining months’ paychecks was for $4800. What was her average paycheck for the year?
A. $4600
B. $4650
C. $4700
D. $4750
E. $4800
A. $4600
B. $4650
C. $4700
D. $4750
E. $4800
Updated on: 07 Jun 2020, 06:33
Originally posted by BrentGMATPrepNow on 27 Mar 2017, 08:20.
Last edited by BrentGMATPrepNow on 07 Jun 2020, 06:33, edited 2 times in total.
Last edited by BrentGMATPrepNow on 07 Jun 2020, 06:33, edited 2 times in total.
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Bunuel
One approach:
Total pay = 4($4500) + 8($4800)
= $56,400
So, average of all 12 paychecks = $56,400/12 = $4700
Answer:
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27 Mar 2017, 08:25
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Bunuel
Another approach is to use weighted averages.
Weighted average of groups combined = (group A proportion)(group A average) + (group B proportion)(group B average) + (group C proportion)(group C average) + ...
In this question, the proportion of $4500 paychecks = 4/12 = 1/3
And the proportion of $4800 paychecks = 8/12 = 2/3
Plugging these values into the formula, we get: average paycheck = (1/3)($4500) + (2/3)($4800)
= $1500 + $3200
= $4700
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