You Are the Manger for Awesome Products Construct a Frequency Distribution of This Information Using Six Equal

question 61

Short Answer

You are the manger for Awesome Products. You are reviewing the following overtime wages paid for the last two weeks of July to your employees: $$\begin{array} { l l l l l l } \$ 218.50 & \$ 328.25 & \$ 146.50 & \$ 478.50 & \$ 648.25 & \$ 641.50 \\\$ 528.25 & \$ 189.00 & \$ 238.50 & \$ 366.75 & \$ 312.50 & \$ 468.75 \\\$ 238.50 & \$ 414.25 & \$ 301.50 & \$ 277.50 & \$ 288.50 & \$ 571.25\end{array}$$ Construct a frequency distribution of this information using six equal classes with an interval of one hundred starting at 100. What is the mean of this grouped data? (Round to the nearest cent)

---

Definitions:

Income Tax Expense

The amount of money a company pays in taxes based on its earnings.

Statement of Cash Flows

A financial statement that summarizes the amount of cash and cash equivalents entering and leaving a company, highlighting the business's operating, investing, and financing activities.

Sales Adjusted

Sales adjusted refers to the revenues after making necessary adjustments for returns, allowances, and discounts to the gross sales figure.

Cash Basis

An accounting method where revenues and expenses are recorded when cash is received or paid, not when incurred.