Explanation:
Refer to the table below. I've added a third row where I multiplied each x value with its corresponding frequency value f. We can refer to this row as the xf row.
Once we know the xf values, we add them up to get 245.
We'll then divide that result over the sum of the frequency values (add everything in the second row). The sum of the frequency values is 39.
So the mean is approximately: 245/39 = 6.282051 which rounds to 6.282
Notice that this mean value is fairly close to the x value which has the highest frequency.
Solution :
It is given that the manager hires a labor and he rents the capital equipment .
Presently the rate of the wage is at $ 10 per hour and the capital is been rented at $ 0.25. If the of the labor is 50 units of the output per hour and the marginal.
Therefore, the answer is
14 + 10 = 24