I have figured out the answers but I\'m not sure of the units of each!! a) $656.

Question

I have figured out the answers but I'm not sure of the units of each!!

a) $656.3
b) $1,381.2
c)bachelor's
d) $802.6

Please help! Easy thumbs up right? (:

1. The average annual salary of both high school graduates and Bachelor's degree holders have been increasing since 1980. See table below Year 1990 1980 11,314 18,075 2000 2010 High School 17,820 25,692 31,003 Bachelor's 31,112 49,595 57,621 a. What was the ARC of average salary for HS graduates between 1980 and 2010? b. What was the ARC of average salary for Bachelor's degree holders between 1980 and 2010? c. Whose average salary has been increasing faster? d. Using the data in the table, estimate the IRC of the average salary of Bachelor's degree holders in 2010 as best you can, and interpret your answer in terms of average salary.

Explanation / Answer

ARC STANDS FOR ASSET RECONSTRUCTION COMPANY.

In a and b, the question regarding ARC of average salary, basically asks for the average salary over a period of time ( which is dealt in dollars.)

Thus in a and b, the units should be in dollars.

Now in the c part, there is qualitative analysis, not a quantitative one, thus one could name the individual or name the group of individual which is BACHELOR'S in this case. Hence no units is required for a qualitative answer.

In the last part IRC stands for International Rescue Committee median salary. As, salary has been dealt in terms of dollars (in the data given in the table), thus one could conclude that the units should be in dollars only.

All the units written by you is absolutely correct.!!

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