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.

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Dulcie 2 months 2021-07-24T17:43:07+00:00 1 Answers 0 views 0

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    2021-07-24T17:44:47+00:00

    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

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