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Chapter 3: Q.20 (page 165)

Find the mean profit. The table shows one store鈥檚 profit for each of its first four months are March - -\(670, April - -\)340, May - \(320, June - \)400.

Short Answer

Expert verified

The mean profit of first four month are -$72.5.

Step by step solution

01

Step 1.  Apply the concept of Profits

In this type of question, use the concept of profits in which It is known that Profit is the difference of income and expenses and Mean profit is equal to the sum of all profits divided by total number of months.

02

Step 2.  Finding the mean of the profit

Since,

The consecutive profits of the months are -$670,-$340,$320,$400.

Total Number of months = 4.

So, the Mean profit of the four months are: Mean=Sum鈥�of鈥�all鈥�profitsno.鈥�of鈥�profits

Mean=鈭�$670+(鈭�$340)+$320+$4004Mean=鈭�$670鈭�$340+$7204Mean=鈭�$2904Mean=鈭�$72.5

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