Question

The following information is from General Electric Corporation annual reports. YearRevenue ($ million)Employees Year Revenue ($...

The following information is from General Electric Corporation annual reports.

YearRevenue ($ million)Employees

Year Revenue ($ million) Employees (000)
2004 134 298
2005 152 302
2006 157 316
2007 168 323
2008 177 336
2009 183 324
2010 150 297
2011 147 290
2012 147 300
2013 146 308
2014 149 302
2015 151 326

Compute a simple index for the number of employees for GE using the period 2004−06 as the base. (Round your answers to 1 decimal place.)

The index (2004−2006 = 100) for selected years is:

Year:

2007 2008 2009 2010 2011 2012 2013 2014 2015

    Simple Index: (9 answers)

What can you conclude about the change in number of employees over the period? (Round your answer to the nearest whole number.)

The number of employees increased by aproximately= % between 2004-06 and 2015.

Math   Statistics-And-Probability   
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Answer #1

Mean number of employees from 2004 to 2006 = (298+302+316)/3 = 305.3.
To calculate the index for a year, say 2007, we will use the formula in this way = (323/305.3) * 100 = 105.8.
Hence, the simple indices for the given years are given below:

Year Employees Simple Index
2007 323 105.8
2008 336 110.0
2009 324 106.1
2010 297 97.3
2011 290 95.0
2012 300 98.3
2013 308 100.9
2014 302 98.9
2015 326 106.8


Percent increase in number of employees = ((326 - 305.3)/305.3) * 100% = 6.77% = 7%.

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