Unit price means the cost per unit.
I'll provide an example.
If 4 bars of soap cost $2.35, find the unit price. Round to the nearest cent if necessary.
Remember that the unit price is the cost per unit which in this case is the cost per bar of soap. Since $2.35 is the cost for 4 bars of soap, to find the cost per bar of soap, we divide 4 into $2.35.
When we do this, we get an answer of 0.587 which rounds up to 59 cents.
Therefore, the unit price for soap is 59 cents.
Solution: We are given below data:
Now to find the mean deviation, we use the below formula:
Where:
represents the summation
X, represents the observation.
represents the mean
N represents the number of observation.
Therefore, the mean deviation is:
= 4