Question

Year Costs (£)

Year One 1.4 million
Year Two 1.6 million
Year Three 1.8 million
Year Four 2.5 million
Year Five 1.7 million

What is the mean amount of costs?

Answer 1

The mean = £ 1.8 million.

Explanation:

This is the total sum of the costs / the number of years.

= (1.4 + 1.6 + 1.8 + 2.5 + 1.7) / 5 million pounds.

Answer 2

1.8 million

Explanation:

Add everything up to get 9 million, then divide by 5 to get the average of the years. This leaves you with 1.8 million