1) Jay\'s Bikes is a fam owned and operated business that stocks a wide range of
ID: 3880268 • Letter: 1
Question
1) Jay's Bikes is a fam owned and operated business that stocks a wide range of bikes designed to fit the needs of professional riders, your child's first bike, and everything in between. The business has 12 full-time employees Jay has asked you to create a spreadsheet from the data in Figure 2-21 to calculate average IT spending so that it can be compared to the retail industry average: What is the average IT spending in the retail industry? What is the average IT spending per employee in the retail industry? The average IT spending in retail is 2.1 percent of revenue. The average IT spending per employee in retail is $4,800. O The average IT spending in retail is 1.8 percent of revenue. The average IT spending per employee in retail is $4,500. OThe average IT spending in retail is 1.7 percent of revenue. The average IT spending per employee in retail is $4,490. The average IT spending in retail is 1.6 percent of revenue. The average IT spending per employee in retail is $4,100.Explanation / Answer
Here is the solution, do comment if you have any doubt.
Jay's Avergae IT spending in retail as percewntage of revenue is : 53200/4501500 * 100% = 1.18%
Use the average(range) function to calculate the average and sum(range) to calculate sum of a range of values.
Average IT spending per employee = 53200/12 = 4433.33
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