Question

Mathematics literacy Finance Break-even analysis homework (1.1 and 1.2 only)

Answer 1

We are given a set of data with the employee number and the corresponding weekly wage.

Part 1.1 To determine the wage per hour we need to find the quotient between the weekly wage and the number of hours worked per week.

In the case of employee 1, we have that his weekly wage was 1680, therefore, the weekly payment per hour is:

`p=(1680)/(42)=40\text{ per hour}`

The weekly payment is $40 per hour.

Part 1.2 We have that employee number 4 work a total of 6 hours each day of the week. Since there are 7 days per week we have that the total number of hours during the week is:

`h_4=(6day)(7)=42\text{ }hours`

Now, we multiply by the rate of payment per week, therefore, his weekly pay must be:

`p_4=(42hours)(40\text{ per hour\rparen}=1680`

Therefore, the weekly wage of 4 is 1680.

Part 1.3 To determine the number of hours that employee 8 we must have into account that the number of hours per week by the rate of pay per hour is the total weekly wage, therefore:

`(40\text{ per hour\rparen}h_8=2000`

Now, we divide both sides by 40:

`h_8=(2000)/(40)=50hours`

Therefore, employee 8 worked 50 hours.

Part 1.4 Since the weekly payment is proportional to the number of hours this means that the employee that worked the least number of hours is the one with the least weekly wage.

We have that employee 5 has the smaller wage, therefore, employee 5 worked the least number of hours.

Part 1.5 we are asked to identify the dependent variable between weekly wage and the number of hours worked.

Since the number of hours does not depend on any of the other considered variables this means that this is the independent variable. Therefore, the dependent variables is the weekly wage. The correct answer is A

Part 1.6 The modal value of a set of data is the value that is repeated the most. We have that the weekly wage that is repeated the most is 1600 since it is the wage of employees 2 and 7. Therefore, the modal value is 1600

Part 1.7 The range of a set of data is the difference between the maximum and minimum values. The maximum wage is 2000 and the minimum is 1160, therefore, the range is:

`R=2000-1160=840`

The range is 840