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streetthunder
A company decided to sell chocolates bars at the value of the weighted mean of price. How do i calculate weighted mean of price using sales as the weight? For how much should the company sell its chocolate bar? for example Price Sales 2.50 125 3.75 316 4.25 471 5.10 128
total sales = 1040 the weight is the percentage of sales each price sells at, for example $2.50 weight is 125/1040 --> P = 2.5(125/1040) + 3.75(316/1040) + 4.25(471/1040)+5.10(128/1040)
so whats the weighted mean of price?
whatever that sum comes out to be...i indicated it with a P
oh thank you so much :)
quick question. for how much should the company sell its chocolate bars?