recent data from the bureau of labor statistics showed that the median weekly earnings of a person with a…

recent data from the bureau of labor statistics showed that the median weekly earnings of a person with a doctoral degree was approximately $2,083 while the median weekly earnings of a person with a masters degree was $1,661. what percent of the median weekly earnings of a person with a doctoral degree is the weekly median earnings of a person with a masters degree? (round your answer to the nearest tenth of a percent.)

recent data from the bureau of labor statistics showed that the median weekly earnings of a person with a doctoral degree was approximately $2,083 while the median weekly earnings of a person with a masters degree was $1,661. what percent of the median weekly earnings of a person with a doctoral degree is the weekly median earnings of a person with a masters degree? (round your answer to the nearest tenth of a percent.)

Answer

Explanation:

Step1: Set up percentage formula

The formula for finding what percent $a$ is of $b$ is $\frac{a}{b}\times100%$. Here, $a = 1661$ (median - weekly earnings of Master's Degree holder) and $b = 2083$ (median - weekly earnings of Doctoral Degree holder). So the expression is $\frac{1661}{2083}\times100%$.

Step2: Calculate the value

$\frac{1661}{2083}\approx0.797$. Then $0.797\times100% = 79.7%$.

Answer:

$79.7$