A survey of salary increases received during a recent year by 44 working MBA students is shown. Find the approximate mean percent raise. $$\begin{array} { c c }
\text { Percent Increase } & \text { Number } \
0 \text { but less than } 2 & 3 \
2 \text { but less than } 4 & 4 \
4 \text { but less than } 6 & 10 \
6 \text { but less than } 10 & 27 \
\text { Total } & 44
\end{array}$$
A)6.56
B)6.74
C)5.90
D)6.39

Question

A survey of salary increases received during a recent year by 44 working MBA students is shown. Find the approximate mean percent raise. $$\begin{array} { c c } 
\text { Percent Increase } & \text { Number } \
0 \text { but less than } 2 & 3 \
2 \text { but less than } 4 & 4 \
4 \text { but less than } 6 & 10 \
6 \text { but less than } 10 & 27 \
\text { Total } & 44
\end{array}$$
A)6.56
B)6.74
C)5.90
D)6.39

Quizplus · Accepted Answer

To find the approximate mean percent raise, we calculate the midpoint of each range and multiply it by the number of students in that range, then divide the total by the number of students. Midpoints are 1%, 3%, 5%, and 8%. The calculation is $\frac{(1\% \times 3) + (3\% \times 4) + (5\% \times 10) + (8\% \times 27)}{44} \approx 6.39\%$.

A Survey of Salary Increases Received During a Recent Year