Math Goodies is a free math help portal for students, teachers, and parents.
|
Interactive Math Goodies Software

testing left nav
Math Forums @ Math Goodies
Home | Profile | Register | Active Topics | Members | Search | FAQ
 All Forums  Homework Help Forums  Probability and Statistics  Average Profits New Topic  Topic Locked  Printer Friendly
Author  Topic

sp00ky
Average Member

7 Posts

 Posted - 10/06/2007 :  14:31:33 Hello,This question has been really confusing me and I was wondering if someone can help me out. The question is as follows:A large corporation has five plants which manufacture tires. It wants to look at overall average profits and use this to create an incentive scheme for managers. What measure of overall average profits should be used and why.Profits \$7400 14400 12300 6200 3100Employees 123 402 256 109 67I am not sure if I am suppose to find the average profit by adding all the profit up and dividing it by the total employees or by 5 (the amount of plants involved). And I believe when I do find the average, I just use the values of each of the plant's profit minus the average and the plant with the highest value is making the most profit. That how I would do it but not sure if it is right.If someone can help me out on this question, it would be much appreciated. =)

Subhotosh Khan

USA
9117 Posts

 Posted - 10/06/2007 :  15:35:30 quote:Originally posted by sp00kyHello,This question has been really confusing me and I was wondering if someone can help me out. The question is as follows:A large corporation has five plants which manufacture tires. It wants to look at overall average profits and use this to create an incentive scheme for managers. What measure of overall average profits should be used and why.``` Profits \$7400 14400 12300 6200 3100 Employees 123 402 256 109 67 ```I am not sure if I am suppose to find the average profit by adding all the profit up and dividing it by the total employees or by 5 (the amount of plants involved). And I believe when I do find the average, I just use the values of each of the plant's profit minus the average and the plant with the highest value is making the most profit. That how I would do it but not sure if it is right.If someone can help me out on this question, it would be much appreciated. =)Profit/employee would be good measure.
Topic
 New Topic  Topic Locked  Printer Friendly Jump To: Select Forum New Visitor Forum       Testing Forum Homework Help Forums       Basic Math and Pre-Algebra       Algebra       Geometry and Trigonometry       Pre-Calculus and Calculus       Probability and Statistics       Standardized Test Preparation Help       Miscellaneous Math Topics Educator Forum       Teacher Talk Parent Forum       Parent's Place  -------------------- Home Active Topics Frequently Asked Questions Member Information Search Page
 Math Forums @ Math Goodies © 2000-2004 Snitz Communications