Complete question :
Calculate the weighted mean price of a table from the following
data, assuming that weights are proportional to the number of
tables sold.
36.00
40.00
44.00
48.00
Price
per
table (Rs.)
No. of tables sold
14
11
9
6
Answer:
40.7
Explanation:
The weighted mean:
Since weights are proportional to the number of tables sold :
(14 + 11 + 9 + 6) = 40
Weights are :
14 /40 = 0.35
11/40 = 0.275
9/40 = 0.225
6/40 = 0.15
Weighted mean = Σweight * price per table
(0.35*36) + (0.275 * 40) + (0.225 * 44) + (0.15 * 48) = 40.7