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JAMB Economics 2007 Question 6

Question 6

Tools of Economic Analysis

Use the table below to answer questions 6 and 7. The table shows the wage distribution of workers.
Class mark (₦): 2 | 5 | 8 | 11 | 14
Frequency: 2 | 3 | 1 | 3 | 1
Calculate the mean wage.

  1. A.₦14.80
  2. B.₦10.00
  3. C.₦7.40
  4. D.₦4.00
Show the answer and explanation

Answer: C (₦7.40)

Explanation

Σfx = 4 + 15 + 8 + 33 + 14 = 74 and Σf = 10, so mean = 74 ÷ 10 = ₦7.40.