Find the Mean for the Given Sample Data

question 120

Multiple Choice

Find the mean for the given sample data.
-The total amount spent on advertising last year by 10 companies was $394.9 million. What was the average amount spent per company last year on advertising?

• A) $28.30 million
• B) $3.85 million
• C) $39.49 million
• D) $394.9 million

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Definitions:

Money Supply

The collective amount of all financial means in an economy, considering cash, coins, and deposits in checking and savings accounts, at a specific moment.

Backed by Gold

Refers to a currency that is guaranteed by gold reserves, meaning its value is supported by the amount of gold held by the issuing authority.

Paper Currency

Money in the form of paper notes issued by the government or central bank, representing a legal tender for transactions.

Medium of Exchange

A medium of exchange is a system or object that is widely accepted as payment for goods and services.