Final answer:
To find the new mean annual wage after a 5.15% increase to the current mean weekly wage of $1,839.00, the increased amount is first calculated and added to the original wage.
Step-by-step explanation:
The question asks for the calculation of the new mean annual wage in a certain industry after a 5.15% increase to the current mean weekly wage of $1,839.00. To find the new mean weekly wage, we first calculate the increase by multiplying the current mean weekly wage by the percentage increase:
Increased Amount = Current Mean Weekly Wage × Percentage Increase
Increased Amount = $1,839.00 × 5.15/100
Increased Amount = $1,839.00 × 0.0515
Increased Amount = $94.7075
Now, we add this amount to the current mean weekly wage to find the new mean weekly wage:
New Mean Weekly Wage = Current Mean Weekly Wage + Increased Amount
New Mean Weekly Wage = $1,839.00 + $94.7075
To find the new mean annual wage, we assume there are 52 weeks in a year and multiply the new mean weekly wage by 52:
New Mean Annual Wage = New Mean Weekly Wage × Number of Weeks in a Year
New Mean Annual Wage = $1,933.7075 × 52
New Mean Annual Wage = $100,552.79
The new mean annual wage in this industry, after considering a 5.15% increase, would be $100,552.79.