Question

financial literacy the last 5 transactions at mr. brighams atm were $250, -$90, -$94, $300, and -$186. find the mean transaction amount.

Explanation:

Step1: Recall mean formula

The mean $\bar{x}=\frac{\sum_{i = 1}^{n}x_{i}}{n}$, where $x_{i}$ are the data - points and $n$ is the number of data - points. Here $n = 5$, and the data - points are $x_1=250$, $x_2=- 90$, $x_3=-94$, $x_4 = 300$, $x_5=-186$.

Step2: Calculate the sum of data - points

$\sum_{i = 1}^{5}x_{i}=250+( - 90)+(-94)+300+( - 186)=250 - 90-94 + 300-186=(250 + 300)-(90 + 94+186)=550 - 370 = 180$.

Step3: Calculate the mean

$\bar{x}=\frac{\sum_{i = 1}^{5}x_{i}}{5}=\frac{180}{5}=36$.

Answer:

$36$