If the average age was $7.67 per hour in 1998 and $14.90 per hour last month, what is the index of hourly wages for last month based on the 1998 information?
A) 100.0
B) 186.9
C) 151.5
D) 194.3

Question

Quizplus · Accepted Answer

To find the index of hourly wages for last month based on the 1998 information, we use the formula: 
Index = (New value/Old value) x 100 
Plugging in the given information: 
Index = (14.90/7.67) x 100 
Index = 194.3 
Therefore, the answer is (D) 194.3.

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