4a). scan the chart below. which employee do you think will earn the highest income? why? b). calculate…

4a). scan the chart below. which employee do you think will earn the highest income? why? b). calculate weekly, yearly, and monthly incomes for these part - time employees: employee & job position, hourly rate, working hours/week, weekly income, yearly income, monthly income; joe, counter person at a coffee shop, $7, 22.5, $157.5, $8190, $682.5; jaz, a call centre employee, $10, 14, $140, $7280, $606.67; justin, a tour bus driver, $15, 16, $240, $12480, $1040; jemm, a labourer in a factory, $23, 20, $460, $23980, $1993.33 c. which person actually made the most money yearly? was your guess in part b) close? unit 1 - money sense mat2l

4a). scan the chart below. which employee do you think will earn the highest income? why? b). calculate weekly, yearly, and monthly incomes for these part - time employees: employee & job position, hourly rate, working hours/week, weekly income, yearly income, monthly income; joe, counter person at a coffee shop, $7, 22.5, $157.5, $8190, $682.5; jaz, a call centre employee, $10, 14, $140, $7280, $606.67; justin, a tour bus driver, $15, 16, $240, $12480, $1040; jemm, a labourer in a factory, $23, 20, $460, $23980, $1993.33 c. which person actually made the most money yearly? was your guess in part b) close? unit 1 - money sense mat2l

Answer

Explanation:

Step1: Analyze part a

By looking at the hourly - rate and working - hours per week, Jemm has the highest hourly rate ($23) and a relatively high number of working hours (20 per week), so Jemm is likely to earn the highest income.

Step2: Calculate weekly income

The formula for weekly income is $Weekly\ income = Hourly\ rate\times Working\ hours\ per\ week$. For Joe: $7\times22.5 = 157.5$; for Jaz: $10\times14 = 140$; for Justin: $15\times16 = 240$; for Jemm: $23\times20 = 460$.

Step3: Calculate yearly income

Assume 52 weeks in a year. The formula for yearly income is $Yearly\ income = Weekly\ income\times52$. For Joe: $157.5\times52=8190$; for Jaz: $140\times52 = 7280$; for Justin: $240\times52=12480$; for Jemm: $460\times52 = 23920$.

Step4: Calculate monthly income

The formula for monthly income is $Monthly\ income=\frac{Yearly\ income}{12}$. For Joe: $\frac{8190}{12}=682.5$; for Jaz: $\frac{7280}{12}\approx606.67$; for Justin: $\frac{12480}{12}=1040$; for Jemm: $\frac{23920}{12}\approx1993.33$.

Step5: Answer part c

By comparing the yearly incomes, Jemm made the most money yearly. If the initial guess in part a was Jemm, then the guess was correct.

Answer:

a) Jemm is likely to earn the highest income because Jemm has the highest hourly rate and a relatively high number of working hours per week. b)

Employee & Job Position Hourly Rate Working Hours/Week Weekly income Yearly income Monthly Income
Joe, counter person at a Coffee Shop $7 22.5 $157.5 $8190 $682.5
Jaz, a call centre employee $10 14 $140 $7280 $\approx606.67$
Justin, a tour bus driver $15 16 $240 $12480 $1040
Jemm, a labourer in a factory $23 20 $460 $23920 $\approx1993.33$
c) Jemm made the most money yearly. If the guess in part a was Jemm, the guess was correct.