A management consulting firm has four types of professionals on its staff: Managing consultants, senior associates, field staff and office staff. Average rates charged to consulting clients for work of each of these professionals categories are k3150/hour, k1680/hour, k1260/hour and k630/hour, respectively. Office records indicate the following number of hours billed last year in each category: 8,000, 14,000, 24,000 and 35,000, respectively. If the firm is trying to come up with an average billing rate for estimating client charges for next year, what would you suggest they do and what do you think is the appropriate rate?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 25PPS
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A management consulting firm has four types of professionals on its staff: Managing consultants, senior associates, field staff and office staff. Average rates charged to consulting clients for work of each of these professionals categories are k3150/hour, k1680/hour, k1260/hour and k630/hour, respectively. Office records indicate the following number of hours billed last year in each category: 8,000, 14,000, 24,000 and 35,000, respectively. If the firm is trying to come up with an average billing rate for estimating client charges for next year, what would you suggest they do and what do you think is the appropriate rate?

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