Bloomberg News reported on a settlement in which Walmart agreed to pay $40 million to up to 87,500 employees because the company had failed to pay overtime, allow rest and meal break and, in addition, manipulated time cards. Eligible present and former employees would receive $400 to $2,500 each - on average $734. The lawyers for the employees asked for fees of $15.2 million from the $40 million. [R188] (a) Compute the mean compensation, assuming that there are 87.500 eligible employees and that the lawyers have taken their cut. (b) Compare your answer to the reported minimum compensation of $400 and the reported $734 the average worker will receive. (c) Draft a letter to the editor or the reporter politely pointing out that both the reported "averages" made no sense and asking for more detail or a correction.

Bloomberg News reported on a settlement in which Walmart agreed to pay $40 million to up to 87,500 employees because the company had failed to pay overtime, allow rest and meal break and, in addition, manipulated time cards. Eligible present and former employees would receive $400 to $2,500 each - on average $734. The lawyers for the employees asked for fees of $15.2 million from the $40 million. [R188] (a) Compute the mean compensation, assuming that there are 87.500 eligible employees and that the lawyers have taken their cut. (b) Compare your answer to the reported minimum compensation of $400 and the reported $734 the average worker will receive. (c) Draft a letter to the editor or the reporter politely pointing out that both the reported "averages" made no sense and asking for more detail or a correction.

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Question

6 On December 2, 2009. Bloomberg News reported on a settlement in which Walmart agreed to pay $40 million to up to 87,500 employees because the company had failed to pay overtime, allow rest and meal break and, in addition, manipulated time cards. Eligible present and former employees would receive $400 to $2,500 each - on average $734. The lawyers for the employees asked for fees of $15.2 million from the $40 million. [R188] (a) Compute the mean compensation, assuming that there are 87.500 eligible employees and that the lawyers have taken their cut. (b) Compare your answer to the reported minimum compensation of $400 and the reported $734 the average worker will receive. (c) Draft a letter to the editor or the reporter politely pointing out that both the reported "averages" made no sense and asking for more detail or a correction.

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