Question

Last month, the daily balance in Joana's credit card account was $1,000 for 9 days, $750 for 10 days, $850 for 4 days, and $900

Answer 1

Answer:

$Average = \ 873$

Step-by-step explanation:

Given

$1000 for 9 days

$750 for 10 days

$850 for 4 days

$900 for other days

Required

Compute the daily average

First, we need to compute the number of days her balance is $900

Assuming the billing cycle is 30 days;

$Number\ of\ days = 30 - (9 + 10 + 4)$

$Number\ of\ days = 30 - 23$

$Number\ of\ days = 7$

The Average is then calculates using:

$Average = \frac{\sum fx}{x}$

$Average = \frac{1000 * 9 + 750 * 10 + 850 * 4 + 900 * 7}{9 + 10 + 4+ 7}$

$Average = \frac{26200}{30}$

$Average = 873.333333333$

$Average = \ 873$ --- Approximated