## anonymous 5 years ago If an investor purchased 50 shares of IBM stock at $70 per share, 110 shares at$110 per share, 130 shares at $135 per share, and another 75 shares at$145 per share, what is the mean cost per share? Round your answer to 2 decimal places.

1. anonymous

It will be total cost divided by total number of shares. The cost is: $50\times 70+110 \times 110+130 \times 135 + 75\times 145=44025$The total number of shares is$50+110+130+75=365$The mean cost per share to two decimal places is then,$\frac{44025}{365}=120.62$

2. anonymous

Thank you that was right

3. anonymous

welcome