2. Adidas sold 120 running shoes for a regular price of P5,000. For summer sale the shoes were reduced to P4,500 and 145 were sold. At the final clearance, the price was reduced to P3,000 and the remaining 35 were sold. What was the weighted mean price of Adidas running shoes? Solution:
2. Adidas sold 120 running shoes for a regular price of P5,000. For summer sale the shoes were reduced to P4,500 and 145 were sold. At the final clearance, the price was reduced to P3,000 and the remaining 35 were sold. What was the weighted mean price of Adidas running shoes? Solution:
2. Adidas sold 120 running shoes for a regular price of P5,000. For summer sale the shoes were reduced to P4,500 and 145 were sold. At the final clearance, the price was reduced to P3,000 and the remaining 35 were sold. What was the weighted mean price of Adidas running shoes? Solution:
Transcribed Image Text:| 2. Adidas sold 120 running shoes for a regular price of P5,000. For summer sale the shoes
were reduced to P4,500 and 145 were sold. At the final clearance, the price was reduced to
P3,000 and the remaining 35 were sold. What was the weighted mean price of Adidas running
shoes?
Solution:
Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...
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