Find the Mean for the Given Sample Data $$\begin{array} { l l l } \$ 122.34 & \$ 233.13 & \$ 222.32 \\\$ 130.44 & \$ 165.25 & \$ 197.41\end{array}$$

question 99

Multiple Choice

Find the mean for the given sample data.
-Six college buddies bought each other Christmas gifts. They spent: $$\begin{array} { l l l } \$ 122.34 & \$ 233.13 & \$ 222.32 \\\$ 130.44 & \$ 165.25 & \$ 197.41\end{array}$$ What was the mean amount spent? Round your answer to the nearest cent.

• A)$178.48
• B)$267.72
• C)$202.18
• D)$214.18

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Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good demanded by consumers.

Utility Function

A mathematical model in economics that ranks alternatives based on their utility or satisfaction levels to a consumer.

Price of X

The monetary value or cost assigned to a good or service, labeled as "X" as a placeholder for any specific item.

Price of Y

The market cost or value assigned to a good or service denoted by 'Y', influenced by factors such as supply, demand, and competition.