Workforce 1 works for a full year while workforce 2 works for only half of a year. Therefore workforce 1's percent increase counts twice as much as workforce 2's increase:
Yearly Average Increase = [(32.66%)(2) + (39.50%)(1)] / (2+1) = ____% ?
Philip P.
tutor
OK, sorry for the miscount. You need to compute a weighted average. Together the two groups worked 17 months (12 months for group 1, 5 months for group 2 (all worked in the same 12 calendar months)). Group 1 worked 12/17 and group 2 worked 5/17 (12/17 + 5/17 =1). These are the weights in the weighted average computation:
(32.66%)(12/17) + (39.50%)(5/17) = Yearly Average Increase
Report
06/13/18
Jon H.
Hi Philip, thank you very much indeed. I would never have managed that! Very much appreciated.
Jon.
Report
06/14/18
Jon H.
06/13/18