A Carpet Company in Egypt Checks Orders from the Weekend

question 4

Multiple Choice

A carpet company in Egypt checks orders from the weekend. There were 6 sales (Egyptian Pounds) : £8,500; £12,500; £11,000; £24,000; £14,500; and £7,500. Calculate the arithmetic mean of these sales.

• A) £11,000
• B) £12,000
• C) £13,000
• D) £14,000

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Definitions:

Expensive Engagement Ring

A high-cost ring traditionally given during a proposal, symbolizing intent to marry.

Scrimping

The act of saving money by spending less, often by cutting back on non-essential expenses.

Signaling

The action of sending a signal (often indirectly) to convey information or intentions in economics, particularly in markets where information is asymmetric.

Informed Party

An individual or entity possessing knowledge or information that gives them an advantage in transactions or decisions.