Question
Question 3 [3 points] Agnessa Sells handmade jewelry at a flea market on weekends. Last month she sold 10 rings at 26 each, 17 necklaces at 84 each, 13 bracelets at 57 each, and 20 earrings at 95 each. What was the weighted average price per item sold? For full marks your answer(s) should be rounded to the nearest cent. Weighted average price =0.00
Solution
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Yancy
Elite · Tutor for 8 years
Answer
$72.15
Explanation
To find the weighted average price per item sold by Agnessa, we need to consider the number of each type of item sold and their respective prices. The formula for the weighted average is:
For Agnessa's sales, the calculation would be:1. Rings:
2. Necklaces:
3. Bracelets:
4. Earrings:
Sum of (Number of items × Price of each item) =
Total number of items =
Therefore, the weighted average price per item sold is approximately$72.15, rounded to the nearest cent.