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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
 2 years ago
 2 years ago
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
 2 years ago
 2 years ago

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dumbcowBest ResponseYou've already chosen the best response.1
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)
 2 years ago

streetthunderBest ResponseYou've already chosen the best response.0
so whats the weighted mean of price?
 2 years ago

dumbcowBest ResponseYou've already chosen the best response.1
whatever that sum comes out to be...i indicated it with a P
 2 years ago

streetthunderBest ResponseYou've already chosen the best response.0
oh thank you so much :)
 2 years ago

streetthunderBest ResponseYou've already chosen the best response.0
quick question. for how much should the company sell its chocolate bars?
 2 years ago
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