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Chapter 1: Problem 37

Ten people ordered calculators. The least expensive was \(\$ 19.95\) and the most expensive was \(\$ 39.95\). Half ordered a \(\$ 29.95\) calculator. Select the best estimate of the amount spent on calculators. a. \(\$ 240\) b. \(\$ 310\) c. \(\$ 345\) d. \(\$ 355\)

Short Answer

Expert verified
The best estimate of the amount spent on calculators is \(\$ 310\).

Step by step solution

01

Determine the approximate average price of a calculator

Consider half the people, that is 5, bought calculators at $29.95. Both the lowest and highest price aren't too far from this value, so it can be used as an average price for estimation. So, take this price as the estimated average price per calculator.
02

Calculate the total estimated cost

Multiply this average price by the total number of calculators bought. That is, \(29.95 * 10 = 299.50\).
03

Choose the closest answer

Looking at the options, the closest answer to $299.50 is $310.

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