M. T. Smith travels the eastern United States as a sales representative for a textbook publisher. She is paid on a commission basis related to volume. Her quarterly earnings over the last 3 years are given below.
| 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |
| Year 1 | $10,000 | $ 5,000 | $25,000 | $15,000 |
| Year 2 | 20,000 | 10,000 | 20,000 | 10,000 |
| Year 3 | 30,000 | 15,000 | 45,000 | 50,000 |
- Calculate separately M. T.’s average earnings in each of the four quarters.
- Calculate separately M. T.’s average quarterly earnings in each of the 3 years.
- Show that the mean of the four numbers you found in part (a) is equal to the mean of the three numbers you found in part (b). Furthermore, show that both these numbers equal the mean of all 12 numbers in the data table. (This is M. T.’s average quarterly income over 3 years.)
Lillian Tyson has been the chairperson of the country library committee for 10 years. She contends that during her tenure She has managed the book-mobile repair budget better than her predecessor did.
Dave’s Giveaway Store advertises, “If our average prices are not equal or lower than everyone else’s, you get free.” One of Dave’s customers came into the store one day and threw counter bills of sale for six items she bought from a competitor for an average prices less than Dave’s.
The items cost
| $1.29 | $2.97 | $3.49 | $5.00 | $7.50 | $10.95 |
Dave's prices for the same six items are $1.35, $2.89, $3.19, $4.98, $7.59, and $11.50. Dave told the customer, "My ad refers to a weighted average prices of these items. Our average is lower because our sales of these items have been:
| 7 | 9 | 12 | 8 | 6 | 3 |
Is Dave getting himself into or out of trouble by talking about weighted averages?
Bennett Distributions Company, a subsidiary of a major appliance manufacture, is forecasting regional sales for next year.
A professor has decided to use a weighted average in figuring final grades for this seminar students. The homework average will count for 20 percent of a student's grade; the midterm, 25 percent; the final, 35 percent, the term paper, 10 percent; and quizzes, 10 percent. From the following data, compute the final average for the five students in the seminar.
Keyes Home Furnishings ran six local newspaper advertisements during December.
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The Nelson Window Company has manufacturing plants in five U.S. cities Orlando, Minneapolis, Dallas, Pittsburgh, and Seattle. The production forecast for the next year has been completed.
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The U.S. Postal Services handles seven basic types of letters and cards: third class, second class, first class, air mail, special delivery, registered, and certified.
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Matthews, Young and Associates, a management consulting firm, has four types of professionals on its staff:
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