In order to determine the mean earnings per month, you need to calculate the sum of the earnings of all the employees then divide it by the number of employees. To compute the total earnings of all the employees, you have to multiply the specific earnings of a certain group of employees with their specific earnings.
Number of employees x Earnings per month = Total
60 $500 $30,000
40 $600 $24,000
20 $1,000 $20,000
Total earnings $74,000
Mean = $74,000/120
= $616.67
