The Automobile Association checks prices of diesel before many holiday weekends. Listed below are the self-service prices for a sample of 15 retail outlets during the last weekend in Exeter.
| 1.23 | 1.22 | 1.2 | 1.21 | 1.25 | 1.25 | 1.22 | 1.24 |
| 1.22 | 1.25 | 1.24 | 1.24 | 1.21 | 1.24 | 1.23 |
Question: What is the mean selling price? (use 2 decimal places)
Sum of all observations
= 1.23 + 1.22 + 1.2 + 1.21 + 1.25 + 1.25 + 1.22 + 1.24 + 1.22 + 1.25 + 1.24 + 1.24 + 1.21 + 1.24 + 1.23
= 18.45
Number of observations = 15
Hence,
Mean selling price
= 18.45/15
= 1.23
The Automobile Association checks prices of diesel before many holiday weekends. Listed below are the self-service...