Tony was analysing the pay of footballers in the top league. He found that, on average, they get paid 50576 pounds per week and work for 27 and one-fourth hours per week. Part a) Calculate the average hourly rate of pay. And part b) Tony wants to work out the yearly average pay of footballers in the top league. He says, “There are four weeks in a month and 12 months in a year. So the average yearly pay will be 50576 pounds times four times 12, which equals 2427648 pounds.” Does Tony’s method give the correct average yearly pay? Tick a box. You must show your working. No, the average yearly pay is less. Yes, it does. Or no, the average yearly pay is more.
First, let’s consider part a). To calculate the average hourly rate of pay, you take the amount you were paid and divide that by the number of hours you worked. If the footballers are paid on average 50576 pounds per week and work 27 and one-fourth hours per week, we need to divide 50576 by 27 and one-fourth hours. We can also rewrite 27 and one-fourth as 27.25. One-fourth is equal to 0.25. 50576 divided by 27.25 equals 1856. This value is a value of pounds per hour.
The footballer would earn 1856 pounds per hour on average.
In part b), Tony says there are four weeks in a month and 12 months in a year. So you can calculate the yearly average pay by multiplying 50576 by four and by 12. Tony has taken the weekly pay and multiplied it by four times 12. Four times 12 equals 48. With these calculations, Tony is calculating that there are 48 weeks in a year. However, there are actually 52 weeks in a year. And that means to calculate the yearly pay, you would need to multiply 50576 by 52. When you do that, you get 2629952 pounds. 2629952 is greater than the 2427648 that Tony calculated to be the yearly average pay.
And so we can say no, Tony is not correct. The average yearly pay is more than he calculated originally.