Question

The last 5 transactions at Mr. Brigham's ATM were $250, -$60, -$94, $300, and -$186. Find the mean transactions amount.

Answer 1

To find the mean transaction amount. We need to understand mean first.

Mean (or average) is a number that expresses the central value in a set of data,  which is calculated by dividing the sum of the values in the set by their number of values.

Here, the transactions shown are

$250, -$60, -$94, $300, and -$186. So there are 5 transactions.

Now mean transaction amount is given by:

$\frac{250+(-60)+(-94)+(300)+(-186)}{5} =\frac{250-60-94+300-186}{5}= \frac{210}{5} =42$

So, the mean transaction amount over 5 transactions is $42.00.

Answer 2

Given

last 5 transactions at Mr. Brigham's ATM were $250, -$60, -$94, $300, and -$186

Find the mean transactions amount

To proof

last 5 transactions were

$250, -$60, -$94, $300, and -$186

FORMULA

mean  of values is the ratio of the sum of all values to the number of all values in the set.

$MEAN = \frac{sum \ of \ all \ values}{total \ number \ of \ values}$

total number of transactions = 5

put all the values in the formula

we get

$MEAN =\frac{250-60-94+300-186}{5}$

$MEAN = \frac{210}{5}$

MEAN = $42

mean transactions amount is  $42

Hence proved