Question

You are working as an office apprentice for the bksb Newcastle Arena.

The arena is attempting to cut down on some of its running costs. Look at the table below that lists the costs for the previous five years.





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

Mean = £1.8 million

Explanation:

The MEAN is the sum of all the numbers divided by the number of numbers.

• There are 5 numbers in total
• The sum is
  `1.4+1.6+1.8+2.5+1.7=9` million

Hence the mean is
`(9)/(5)=1.8` million