What formulas to use to work out the following questions

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Discussion Overview

The discussion revolves around calculating the number of employees and full-time employees based on provided revenue data and revenue per employee metrics for the years 2007 to 2010. The focus is on applying formulas to derive these figures, with specific questions posed regarding the years 2010 and 2008.

Discussion Character

  • Homework-related
  • Mathematical reasoning

Main Points Raised

  • One participant suggests using the formula for revenue per employee to find the number of employees in 2010 by dividing total revenue by revenue per employee.
  • Another participant attempts to add the revenues per employee and divide total revenue by that sum, leading to confusion about the correct approach.
  • A clarification is provided that the revenue per employee already encompasses the revenue per full-time employee, indicating that only the revenue per employee should be used for the calculation.
  • A participant calculates the number of employees for 2010 as approximately 158,275, based on their interpretation of the formulas.
  • For question 2, another participant proposes dividing total revenue by the revenue per full-time employee to find the number of full-time employees, initially calculating it for 2010 instead of 2008.

Areas of Agreement / Disagreement

Participants express confusion about the calculations and the correct application of formulas. There is no consensus on the correct method for determining the number of employees, as some participants propose different approaches and interpretations of the data.

Contextual Notes

Participants' calculations depend on their understanding of the definitions of revenue per employee and revenue per full-time employee, which may lead to different interpretations and results.

JimBobBrown
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[table="width: 500, class: grid"]
[tr]
[td][/td]
[td]2007[/td]
[td]2008[/td]
[td]2009[/td]
[td]2010[/td]
[/tr]
[tr]
[td]Total revenue
($1,000 million)[/td]
[td]60.05[/td]
[td]58.43[/td]
[td]61.24[/td]
[td]63.31[/td]
[/tr]
[tr]
[td]Revenue per employee
($1,000)[/td]
[td]168.8[/td]
[td]163.5[/td]
[td]170.6[/td]
[td]175.3[/td]
[/tr]
[tr]
[td]Revenue per full-time employee
($1,000)[/td]
[td]198.6[/td]
[td]197.1[/td]
[td]210.6[/td]
[td]224.7[/td]
[/tr]
[/table]

1. What was the number of employees in 2010?

2. What was the number of full-time employees in 2008?
 
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JimBobBrown said:
[TABLE="class: grid, width: 500"]
[TR]
[TD][/TD]
[TD]2007[/TD]
[TD]2008[/TD]
[TD]2009[/TD]
[TD]2010[/TD]
[/TR]
[TR]
[TD]Total revenue
($1,000 million)[/TD]
[TD]60.05[/TD]
[TD]58.43[/TD]
[TD]61.24[/TD]
[TD]63.31[/TD]
[/TR]
[TR]
[TD]Revenue per employee
($1,000)[/TD]
[TD]168.8[/TD]
[TD]163.5[/TD]
[TD]170.6[/TD]
[TD]175.3[/TD]
[/TR]
[TR]
[TD]Revenue per full-time employee
($1,000)[/TD]
[TD]198.6[/TD]
[TD]197.1[/TD]
[TD]210.6[/TD]
[TD]224.7[/TD]
[/TR]
[/TABLE]

1. What was the number of employees in 2010?

2. What was the number of full-time employees in 2008?
Hi JimBobBrown,

Here you are given the revenue per employee and the revenue per full time employee. If we we take the first one; the revenue per employee it means that you take the total revenue and divide by the number of employees. In equation form we can write this as,

\[\mbox{Revenue per Employee}=\frac{\mbox{Total Revenue}}{\mbox{Number of Employees}}\]

So you are given the Revenue per employee as well as the total revenue for 2010. Plugging those values in the above equation you can find the number of employees for 2010. Can you try to do part 2 yourself? It's basically the same thing but instead of the number of total employees you have number of full time employees. :)
 
Thanks for that, still can't get my head around it for some reason. So for question 1. I would add up both revenues per employee then divide total revenue by that figure?

175300 + 224700 = 400000
63,310,000,000 / 400,000 = 158275
Employees = 158,275
 
JimBobBrown said:
Thanks for that, still can't get my head around it for some reason. So for question 1. I would add up both revenues per employee then divide total revenue by that figure?

175300 + 224700 = 400000
63,310,000,000 / 400,000 = 158275
Employees = 158,275

You don't have to add up both revenues since the "Revenue Per Employee" includes the "Revenue per Full Time Employee". So you just got to use the Revenue per Employee amount. :)
 
WoW I thought something was not making sense. but it does now many thanks Sudharaka. So follow that question 2. would be just

total / full-time =

63,310,000,000 / 224700 = 281753.4
 
JimBobBrown said:
WoW I thought something was not making sense. but it does now many thanks Sudharaka. So follow that question 2. would be just

total / full-time =

63,310,000,000 / 224700 = 281753.4

The method is correct but note that in question 2 you have to find the number of full time employees in 2008.