Find the Mean for the Given Sample Data $$\begin{array} { l l l l l } \$ 453.83 & \$ 529.91 & \$ 439.27 & \$ 309.23 & \$ 453.86 \\\$ 533.25 & \$ 457.25 & \$ 156.42 & \$ 152.64 &\end{array}$$

question 135

Multiple Choice

Find the mean for the given sample data.
-Frank's Furniture employees earned the following amounts last week: $$\begin{array} { l l l l l } \$ 453.83 & \$ 529.91 & \$ 439.27 & \$ 309.23 & \$ 453.86 \\\$ 533.25 & \$ 457.25 & \$ 156.42 & \$ 152.64 &\end{array}$$ What was the mean amount earned by an employee last week? Round your answer to the nearest cent.

• A)$387.30
• B)$435.71
• C)$497.95
• D)$380.63

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Definitions:

Receivables Balance

The total amount of money owed to a company by its customers for goods or services delivered or used but not yet paid for.

Accounts Receivable Turnover

This ratio measures how efficiently a company collects revenue from its customers by dividing total sales by the average accounts receivable during a specific period.

Credit Sales

Sales transactions where the payment is deferred to a future date, essentially extending credit to the purchaser.

Credit Period

The amount of time allowed by a seller for a buyer to pay for goods or services received, typically expressed in days.