## The table below shows the monthly balances a person had on their credit card over a five-month period. Month Balance Janua

Question

The table below shows the monthly balances a person had on their credit card over a five-month period.

Month Balance
January -$50 February$25
March -$70 April -$45
May $25 What was the average monthly balance over the five-month period? Enter your answers and your explanations or work in the space provided. in progress 0 2 months 2021-07-24T17:43:07+00:00 1 Answers 0 views 0 ## Answers ( ) 1. Answer: average monthly balance =$43

Step-by-step explanation:

If we have a set of N numbers:

{x₁, x₂, x₃, …, xₙ}

The mean (or average) is calculated as:

Mean = (x₁ + x₂ + … + xₙ)/N

In this case, the values on the set are the balances for every month.

Then our set is:

{$50,$25, $70,$45, $25} This is a set of 5 elements. Then the average monthly balance is: average monthly balance = ($50 + $25 +$70 + $45 +$25)/5 = $43 average monthly balance =$43