Question

The last 5 transactions at Mr. Brigham's ATM were $250, -$60, -$94, $300, and -$186. Find the mean transactions amount.

Answer 1

Given

last 5 transactions at Mr. Brigham's ATM were $250, -$60, -$94, $300, and -$186

Find the mean transactions amount

To proof

last 5 transactions were

$250, -$60, -$94, $300, and -$186

FORMULA

mean of values is the ratio of the sum of all values to the number of all values in the set.

`MEAN = (sum \ of \ all \ values)/(total \ number \ of \ values)`

total number of transactions = 5

put all the values in the formula

we get

`MEAN =(250-60-94+300-186)/(5)`

`MEAN = (210)/(5)`

MEAN = $42

mean transactions amount is $42

Hence proved

Answer 2

To find the mean transaction amount. We need to understand mean first.

Mean (or average) is a number that expresses the central value in a set of data, which is calculated by dividing the sum of the values in the set by their number of values.

Here, the transactions shown are

$250, -$60, -$94, $300, and -$186. So there are 5 transactions.

Now mean transaction amount is given by:

`(250+(-60)+(-94)+(300)+(-186))/(5) =(250-60-94+300-186)/(5)= (210)/(5) =42`

So, the mean transaction amount over 5 transactions is $42.00.