Question

The hourly wages of a sample of 41 employees of a construction company are summarized in the table below. Find the mean hourly wage of these 41 employees. Round your answer to at least two decimal places

Answer 1

The mean of our dataset is given by the sum of all values divided by the amount of elements. We have 41 employees, which is the total amount of elements in our dataset, and the values repeat themselves. 7 employees earn $7.50, therefore, we need to add this value 7 times to calculate the mean. The same logic applies to the other values.

Therefore, our mean is:

`\begin{gathered} \mu=(7*7.50+7*8.50+12*9.50+15*12.00)/(41) \\ \\ \mu=9.90243902...\approx9.90 \end{gathered}`

The mean hourly wage is $9.90.