On a Drafting Test, the Scores Achieved Are as Follows

question 7

Short Answer

On a drafting test, the scores achieved are as follows: 4 students, 82%; 5 students, 77%; 4 students, 88%; 5 students, 84%; 1 student, 99%, and 1 student, 58%. What was the average score on the test? Round the answer to the nearest hundredth as necessary.

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Definitions:

Common Stock

A type of equity security that represents ownership interest in a corporation, giving shareholders voting rights and a share in the company's profits via dividends.

Treasury Stock

Repurchased shares by a company, treasury stock is treated as an asset on the balance sheet and can affect the company's shareholders' equity and earnings per share.

Paid-In Capital

Funds received from investors in exchange for shares of a company's stock, reflecting the equity capital contributed by shareholders.

Retained Earnings

The portion of net income that is kept by a company rather than distributed to its shareholders as dividends, to be reinvested in the business or to pay debt.