Calculate to two decimal places. weighted mean = A clothing store bought 8000 shirts last year from five different companies. The following table lists the number of shirts boughtfrom each company and the price paid for each shirt.CompanyNumber of Shirts Bought Price per Shirt (dollars)Best Shirts110030Top Wear200045Śmith Shirts150040New Design220035Radical Wear120050Calculate to 2 decimal places the weighted mean that represents the average price paid for these 8000 shirts.Weighted mean = $ i

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Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.3: Measures Of Spread

Problem 8PPS

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Calculate to two decimal places.

weighted mean =

A clothing store bought 8000 shirts last year from five different companies. The following table lists the number of shirts bought
from each company and the price paid for each shirt.
Company
Number of Shirts Bought Price per Shirt (dollars)
Best Shirts
1100
30
Top Wear
2000
45
Śmith Shirts
1500
40
New Design
2200
35
Radical Wear
1200
50
Calculate to 2 decimal places the weighted mean that represents the average price paid for these 8000 shirts.
Weighted mean = $ i

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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