Question

A college student realized that he was spending too much money on music. For the remaining 55 months of the year his goal is to spend a mean of $50$ 50 a month towards music. How much can he spend in December, taking into consideration that in the other 44 months he spent $40$ 40, $25$ 25, $55$ 55, and $90$ 90, respectively? Round your answer to two decimal places, if necessary.

Answer 1

Answer:

The student can spend $65 in December.

Step-by-step explanation:

We are given the following in the question:

The spending of 5 months on music must have a mean of $50.

Spending of 4 months:

$40, $25, $55, $90

$Mean = \displaystyle\frac{\text{Sum of all observations}}{\text{Total number of observation}}$

Let x dollars be the spending of last month. Thus, we can write:

$\Rightarrow \dfrac{40+25+55+90+x}{5} = 55\\\\\Rightarrow 40+25+55+90+x = 275\\\Rightarrow 210 + x = 275\\\Rightarrow x = 65$

Thus, the student can spend $65 in December.