Math Problem Statement
The current salaries in Sasha’s department are $42,000, $32,000, $33,000, $38,000, and $50,000. Sasha wants to adjust the lowest salary up to $40,000. If Sasha gives every employee a $1,000 raise in addition to adjusting the lowest salary, Find the total cost for the increment?
Solution
To determine the total cost of the salary increment, let's break down the steps:
-
Adjust the lowest salary to $40,000:
- The lowest salary currently is $32,000.
- Sasha wants to adjust this salary to $40,000, which requires an increment of:
-
Give every employee a $1,000 raise:
- There are 5 employees, so giving each a $1,000 raise will cost:
-
Calculate the total cost:
- The total cost is the sum of the $8,000 adjustment to the lowest salary and the $5,000 for the $1,000 raise for each employee.
Thus, the total cost for the increment is $13,000.
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Follow-up questions:
- How does the raise affect the total salary distribution?
- What would be the total cost if the raise was $2,000 per employee?
- How would you calculate the average salary before and after the raise?
- What effect does the salary adjustment have on the salary variance?
- How might the raise impact employee satisfaction and motivation?
Tip: To understand the total financial impact of salary raises, always break down the increments step-by-step to avoid missing any individual costs.
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Math Problem Analysis
Mathematical Concepts
Salary Adjustment
Basic Arithmetic
Cost Calculation
Formulas
Total cost = (Salary adjustment) + (Total raise per employee)
Theorems
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Suitable Grade Level
Grades 7-9
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