Illustration 6: The price of an item changes from shop to shop. The following data are available.
Find the mean price.
Price ()
206
212
218
220
224
230
No. of shops
5
8
9
14
3
1
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class 11th accounts ch-3 measures of central tendency
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Answer:
Mean Price is 216.75
Explanation:
Mean Price
= {(206×5)+(212×8)+(218×9)+(220×14)+(224×3)+(230×1)}/(5+8+9+14+3+1)
=8670/40
=216.75
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