
Anonymous A. answered 05/12/24
Bachelor Degree in Math with 12 plus years Teaching Experience
Lets look at this problem. There are a total of 36 customers so we must have 36 guesses for the cost of the computer. To find the mean (the average) we must add up the total of all the guesses and divide the total by 36. The numbers used for the problem comes from the given frequency table.
We have 14 people who said the computer is $1,400. We have 19 people who said the computer is $1,800, and we have 3 people who said that the computer is $1,000. There is an easy or a hard way to do this problem. We can keep adding $1,400 (14 times) and $1,800 (19 times) etc., or we can remember that multiplication is just repeated addition.
The equation for the mean is:
mean = 14 x 1400 + 19 x 1800 + 3 x 1000
36
The mean is $1,577.77.....
The nearest dollar is $1,578