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20. Based on the data, the mean nominal wage is O A. 123.26 B. 291.81 O c. 350.00 O D. 358.88 21. Referring to the data, the median real wage is O A. 123.2 B. 290.37 O c. 291.81 D. 350.00

20. Based on the data, the mean nominal wage is O A. 123.26 B. 291.81 O c. 350.00 O D. 358.88 21. Referring to the data, the median real wage is O A. 123.2 B. 290.37 O c. 291.81 D. 350.00

Algebra for College Students
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter10: Exponential And Logarithmic Functions
Section10.6: Exponential Equations, Logarithmic Equations, And Problem Solving
Problem 55PS
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For problems 20 to 23, refer to the following: Real wage is a wage deflated by the current consumer price index. It gives information on how much current wage compares to the wage of given base year period. Real wage is obtained by dividing the nominal wage by the current Consumer Price Index (CPI) of a given month multiplied by 100. Table 1 below presents the real wage and nominal wage of non-agriculture workers in the Philippines as of December 2019 by region. Region Nominal Wage Real Wage CPI NCR 537.00 119.8 448.25 CAR 350.00 120.4 290.70 340.00 120.9 281.22 360.00 122.8 293.16 400.00 120.7 331.40 IV-A 400.00 120.4 332.23 IV-B 320.00 124.1 257.86 310.00 123.9 250.20 VI 395.00 123.2 320.62 VI 356.00 125.2 306.31 VII 315.00 125.7 250.60 IX 316.00 126.1 250.59 365.00 125.7 290.37 XI 396.00 122.3 323.79 XI 311.00 125.1 248.60 CARAGA 320.00 121.2 264.00 ARMM 280.00 127.9 218.92 Table 1. Nominal and Real Wages of Non-Agricultural Workers by Region.
Transcribed Image Text:For problems 20 to 23, refer to the following: Real wage is a wage deflated by the current consumer price index. It gives information on how much current wage compares to the wage of given base year period. Real wage is obtained by dividing the nominal wage by the current Consumer Price Index (CPI) of a given month multiplied by 100. Table 1 below presents the real wage and nominal wage of non-agriculture workers in the Philippines as of December 2019 by region. Region Nominal Wage Real Wage CPI NCR 537.00 119.8 448.25 CAR 350.00 120.4 290.70 340.00 120.9 281.22 360.00 122.8 293.16 400.00 120.7 331.40 IV-A 400.00 120.4 332.23 IV-B 320.00 124.1 257.86 310.00 123.9 250.20 VI 395.00 123.2 320.62 VI 356.00 125.2 306.31 VII 315.00 125.7 250.60 IX 316.00 126.1 250.59 365.00 125.7 290.37 XI 396.00 122.3 323.79 XI 311.00 125.1 248.60 CARAGA 320.00 121.2 264.00 ARMM 280.00 127.9 218.92 Table 1. Nominal and Real Wages of Non-Agricultural Workers by Region.
20. Based on the data, the mean nominal wage is O A. 123.26 B. 291.81 C. 350.00 D. 358.88 21. Referring to the data, the median real wage is A. 123.2 B. 290.37 C. 291.81 O D. 350.00
Transcribed Image Text:20. Based on the data, the mean nominal wage is O A. 123.26 B. 291.81 C. 350.00 D. 358.88 21. Referring to the data, the median real wage is A. 123.2 B. 290.37 C. 291.81 O D. 350.00
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