• 1 Marks

QTB – Nov 2015 – L1 – SA – Q5 – Data Collection Analysis

This question calculates the mean earnings per hour for employees in a company.

In a company having 100 employees, 80 each earn N800.00 per hour and the remaining 20 each earn N1000.00 per hour. What is the mean earnings per hour?

A. N940 per hour
B. N840 per hour
C. N740 per hour
D. N640 per hour
E. N540 per hour

B

Explanation:
The correct answer is “B. N840 per hour.” The mean earnings per hour are calculated using the weighted average formula.

Calculation:
Total earnings for 80 employees = 80 × N800 = N64,000
Total earnings for 20 employees = 20 × N1000 = N20,000
Combined earnings = N64,000 + N20,000 = N84,000
Mean earnings per hour = N84,000 ÷ 100 = N840 per hour.

Run-down:
Mean earnings are calculated by taking the total earnings of all employees and dividing it by the total number of employees, providing an average rate. This approach helps understand the overall compensation trend in the company.

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