Find the Mean of the Data Summarized in the Given

question 107

Multiple Choice

Find the mean of the data summarized in the given frequency distribution.
-The highway speeds of 100 cars are summarized in the frequency distribution below. Find the mean speed. $$\begin{array} { r | r } \text { Speed (mph) } & \text { Cars } \\\hline 30 - 39 & 3 \\40 - 49 & 17 \\50 - 59 & 51 \\60 - 69 & 16 \\70 - 79 & 13\end{array}$$

• A)59.2 mph
• B)54.5 mph
• C)62.0 mph
• D)56.4 mph

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Definitions:

Profit Margin

A financial metric used to assess a company's financial health by revealing the proportion of money left over from revenues after accounting for the cost of goods sold.

Total Asset Turnover

A financial metric that measures a company's efficiency in using its assets to generate sales or revenue.

Net Income

The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue; often referred to as the bottom line.

Average Total Assets

A financial metric calculated by averaging a company's total assets over a certain period, used to measure a company's asset utilization efficiency.