If the monthly income (is Rs.) of 6 families is as below 1600,1500,1400,1525,1625,1630; the average income is?
Answers
Answered by
2
Answer:
1546.67 rupees
Explanation:
average= sum of all income/ total no. of income
Answered by
2
The average income amounts to Rs 1,547
Explanation:
Average Income, also referred to as PCI, which stands for Per capita Income, it is described as the measure or evaluates the average income earned per person in the stated area and in the particular year or period.
The formula for computing is as:
Average Income = Total Income / Total Population
In this case, the average income is computed as:
Average income = Total income of families / Total number of families
where
Total number of families is 6
Total income of families is as:
Total income = Rs1600 + Rs1500 + Rs1400 + Rs1525 + Rs1625 + Rs1630
= Rs 9,280
Putting the values above:
Average Income = Rs 9,280 / 6
= Rs 1,546.67 or Rs 1,547
Similar questions