Weighted mean that represents the average price

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Reference no: EM131243928

A clothing store bought 8000 shirts last year from five different companies. The following table lists the number of shirts bought from each company and the price paid for each shirt.

Company

Number of Shirts Bought

Price per Shirt (dollars)

Best Shirts

1200

30

Top Wear

1900

45

Smith Shirts

1400

40

New Design

2200

35

Radical Wear

1300

50

Calculate to 2 decimal places the weighted mean that represents the average price paid for these 8000 shirts.

Weighted mean = $

the tolerance is +/-2%

Reference no: EM131243928

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