Question

recent data from the bureau of labor statistics showed that the median weekly earnings of a person with a master’s degree was approximately $1,661 while the median weekly earnings of a person with a bachelor’s degree was $1,432. what percent of the median weekly earnings of a person with a master’s degree is the weekly median earnings of a person with a bachelor’s degree? (round your answer to the nearest tenth of a percent.)

Explanation:

Step1: Set up percentage - formula

The formula to find what percent $A$ is of $B$ is $\frac{A}{B}\times100\%$. Here, $A = 1661$ (median weekly earnings of a person with a Master's Degree) and $B = 1432$ (median weekly earnings of a person with a Bachelor's Degree).
So the expression is $\frac{1661}{1432}\times100\%$.

Step2: Calculate the value

$\frac{1661}{1432}\approx1.16$
$1.16\times100\% = 116.0\%$

Answer:

$116.0\%$