Answer to Question #217858 in Finance for Beauty Magadlela

Question

The following figures show the profit of a greengrocer for the past five years: R360 000, R550 000, R200 000, R80 000 and R700 000. The arithmetic mean of the data is

[1] R225 424. [2] R252 032. [3] R1 890 000. [4] R378 000. [5] none of the above

Answer 1

$Arithmetic Mean = (x1 + x2 + x3 + ... xn) / n$

= (R 360,000 + R 550,000 + R 200,000 + R 80,000 + R 700,000)/5

= R 1, 890, 000 / 5

= R 378,000