Asked by

tanika smith
on Dec 02, 2024

verifed

Verified

A consumer group surveyed the prices for a certain item in five different stores and reported the mean price to be $15.If you visited four of these stores and found their prices to $10,$15,$17,and $25,what is the price of this item at the fifth store?

A) $8
B) $10
C) $12
D) $15
E) It cannot be determined.

Mean Price

Mean price is the average price of a set of goods or services, calculated by dividing the total price by the number of items.

Item

An individual article or unit, especially one that is part of a list, collection, or set.

  • Apply knowledge of statistics to real-world problems involving finance, demographics, and academic performance.
verifed

Verified Answer

JM
Jawad MalikDec 03, 2024
Final Answer:
Get Full Answer