Worksheet 2 - Name: Worksheet 2 Due Wednesday February 1,...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Name: Worksheet 2 Due Wednesday February 1, 2011 Show all computations. Write neatly. Staple your work. 1. Consider the following table. Table 1: Minimum Wages in California and Their Effective Dates Effective Date Minimum Wage Mar. 1, 1998 $ 5.75 Jan. 1, 2001 $ 6.25 Jan. 1, 2002 $ 6.75 Jan. 1, 2007 $ 7.50 Jan. 1, 2008 $ 8.00 (a) Write the formula for an index number. index number = (b) Using the minimum wage with effective date Jan. 1, 2001 as the reference value, compute the minimum wage indices for each minimum wage in the table: Effective Date Minimum Wage Index (Jan. 1, 2001 = 100) Mar. 1, 1998 $5.75 92 Jan. 1, 2001 $ 6.25 100 Jan. 1, 2002 $ 6.75 Jan. 1, 2007 $ 7.50 Jan. 1, 2008 $ 8.00 128 2 (c) Use the index numbers for Mar. 1, 1998 and Jan. 1, 2008 to compare the minimum wages from those dates. Summarize your findings by completing the sentence below. Note: you must use the index numbers for this computation, so be sure your solution shows how you used them ....
View Full Document

Page1 / 7

Worksheet 2 - Name: Worksheet 2 Due Wednesday February 1,...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online