Lab 1 Initial Topics: Problem 3 (18 points) Joe and Dawn were both hired by Stoudt Manufocturing two summers ago. The company agreed to give each of them a raise after their first year on the job and another after their second year. The raises would be determined by their annual individual performance evaluations. Joe, Who started at annual salary of $39,800, recelved a raise of $3,700 after his first performance evaluation and a 3.4% increase after his second annual evaluation. Dawn, who was hired at $258,000 per year, earned a $5,500 raise after her first year followed by a 4.2% increase her second year, Use this data to complete the sentences below. You may use the spreadsheet applet above to assist you with your calculations. Round all salary amounts (annual salary, salary increase) to the nearest whole dollar. Round other answers (percentages, cents per year) to two decimal places. (a) After his first performance evaluation, Joe's new annual salary was $ This means after 1 year of employment, Stoudt Manufacturing determined that Joe earned a * increase. So, Joe will be making an extra cents per dollar of his starting annual salary. (b) After her first performance evaluation, Dawn's new annual salary was \$ This means after 1 year of employment, Stoudt Manufacturing determined that Dawn earned a % increase. So, Dawn will be making an extra cents per dollar of her starting annual salary. (c) After his second performance evaluation, Joe earned a raise of $ (round to nearest whole doliar) so that his new annul salary after his second raise is $ (round to nearest whole dollar). So, based only on the second raise, Joe will add an extra cents per dollar to his annua salary. (d) After her second performance evaluation, Dawn earned a raise of s (round to nearest whole dollar) so that her now annual salary after her second raise is $ (round to nearest whole dollar), So, based only on the second raise, Dawn will add an extra cents per doltar to he annual salary. (e) We can summarize Joe's raises using percentages. After his first evaluation, Joe received a \% raise, After his second evaluation, Joe's raise was \%. Overall, comparing Joe's starting salary to his salary after the second raise, his new salary is a salary. (Notice that the last blank IS NOT EQUAL to the sum of the first two blanks. Can you explain why?) (f) Considering the total increase from their starting salaries to after their second raise, Joe's salary increased by increased by Conclusion: A. Dawn had the larger raise in both dollar amount and overall percent increase. B. Joe had the larger raise in both dollar amount and overall percent increase. C. Although Dawn's raises had higher dollar amounts, Joe had the larger overall raise because his percent increase was higher. D. Dawn had the higher percentage raise, even though Joe received a higher dollar amount in his raises
