The formula to calculate the Average Weekly Wage (AWW) is:
\[ AWW = \frac{AS}{50} \]
Where:
An average weekly wage is the total amount of earnings an employee would receive on a weekly basis, on average, based on their total annual salary. The calculation typically assumes a standard 50 workweek year, accounting for vacation and holiday time.
Let's assume the following value:
Using the formula to calculate the Average Weekly Wage:
\[ AWW = \frac{50,000}{50} = 1,000 \text{ dollars per week} \]
The Average Weekly Wage is $1,000 per week.
