What is the weighted mean frequency for the following car sales (round answer to nearest whole dollar)? 2 sold at $25,090, 3 sold at $20,000, 1 sold at $21,475, and 1 sold at $39,638
A)$24,740
B)$24,000
C)$21,241
D)$24,470
E)None of these

Question

Quizplus · Accepted Answer

To find the weighted mean frequency, we need to multiply the frequency (number of cars sold) by the price, sum these values, and then divide by the total frequency.

(2*$25,090) + (3*$20,000) + (1*$21,475) + (1*$39,638) = $171,293

Total frequency = 2 + 3 + 1 + 1 = 7

Weighted mean frequency =  $171,293 / 7 = $24,470

Therefore, the best choice is D, with a weighted mean frequency of $24,470.

What Is the Weighted Mean Frequency for the Following Car