Asked by

Abigail Edwards
on Oct 24, 2024

verifed

Verified

A consumer group surveyed the prices for cotton,extra-long twin bed sheet sets in five different department stores and reported the average price as $16.We visited four of the five stores and found the prices to be $12,$15,$17,and $22.Assuming that the consumer group is correct,what is the price of the item at the store that we did not visit?

A) $10
B) $14
C) $15
D) $17

Average Price

The mean amount of money required for the purchase of a category of goods or services, calculated by summing all prices and dividing by the number of prices.

Cotton Sheet Sets

Bedding sets made entirely from cotton, known for their softness, breathability, and durability.

Consumer Group

A collection of individuals who share similar needs or characteristics and are considered together for marketing and research purposes.

  • Build expertise in determining and understanding essential statistical measures like mean, median, mode, and range.
  • Determine the appropriate measures of central tendency and dispersion for different types of data.
verifed

Verified Answer

AR
Addie RinckOct 26, 2024
Final Answer:
Get Full Answer