A contractor has 20 male, 15 female, and 5 child employees. Wages are Rs. 10/day for men, Rs. 8/day for women, and Rs. 3/day for children. The weighted x of daily wages is_____________?
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Answer: B. 8.37
Explanation
Total wages equal twenty men multiplied by ten plus fifteen women multiplied by eight. Adding children earnings yields a grand total wage expenditure of three hundred thirty-five. Dividing total wages by forty total employees results in a weighted mean of eight point thirty-seven. Weighted means account for the relative frequency or importance of each subgroup value. Calculating group totals involves multiplying individual group sizes by their respective average wages. Dividing the summed subgroup products by total sample size yields the weighted average.
Economists use weighted averages to calculate overall salary indices across diverse workforce sectors. Financial analysts apply these calculations when evaluating mixed portfolio returns and investments. Proper wage weighting ensures accurate representation of economic data in labor reports. Option three point eighty-six represents an incorrect arithmetic calculation of wage proportions. Option nine point twenty-one fails to reflect the correct subgroup employee distribution ratios. Option ten point sixty-three overestimates the average daily wages across all employee categories.
- Subject
- Mathematics
- Category
- Statistics
- Topic
- —
- Difficulty
- medium
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