In October 2005, a company employs 15000 people and its total monthly wage bill

Question

In October 2005, a company employs 15000 people and its total monthly wage bill is 33.75 million dollars.

What is the average monthly wage of the company's employees?

The company is growing at a rate of 8 employees per month.

The total monthly wage bill is increasing at a rate of 580 thousand dollars per month.

At what rate is the average monthly wage changing at this time?

Give your answer correct to the nearest cent per month.

You should be careful over the units in this question.

Hint: write the total monthly wage bill as the function f (t) and the number of employees as the function g (t). What is the average monthly wage in terms of the functions f and g?

Explanation / Answer

1)33.75*10^6/15000=2250dollers

2)df/dt=580,dg/dt=8

d(f/g)/dt=38.666dollars

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