Calculate the Mean of the Grouped Data from the Given

question 125

Multiple Choice

Calculate the mean of the grouped data from the given frequency distribution. (Round your answer to the nearest tenth) $$\begin{array} { | l | l | } \hline \text { Class } & \text { Frequency } ( f ) \\\hline 300 \text { to } 399 & 2 \\\hline 400 \text { to } 499 & 1 \\\hline 500 \text { to } 599 & 4 \\\hline 600 \text { to } 699 & 3 \\\hline 700 \text { to } 799 & 1 \\\hline\end{array}$$

• A) 225.3
• B) 549.5
• C) 272.3
• D) 449.5

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Definitions:

Accounts Payable Balance

The total amount of money that a company owes to its suppliers or creditors for items or services purchased on credit.

Sales

Revenue generated from goods or services sold by a company in a specific period.

COGS

Short for Cost of Goods Sold, it represents the direct costs attributable to the production of the goods sold by a company.

Factoring Costs

Expenses associated with selling accounts receivable to a third party, commonly referred to as a factor, to improve cash flow.