Instructions

The given graphs and chart show the products list prices and net prices of ABC Pt Ltd, from 2013 to 2020. Study the information and answer the questions that follow.

Question 68

If x is the average (arithmetic mean) of the product's net prices of ABC Pvt Ltd for the period 2013-2020, then calculate the difference between the average (arithmetic mean) of the products' net price greater than x and the average of the products' net price less than x for the period 2013-2020?

Solution

The average product net price would be: $$\frac{2000+5000+7000+5000+3000+6000+5000+8000}{8}=5125$$
The average of product prices less than this average price: 
$$\frac{2000+5000+5000+3000+5000}{5}=4000$$

The average product price greater than this average price would be:
$$\frac{7000+6000+8000}{3}=7000$$

The difference between these two averages would be 7000 - 4000 = 3000 million dollars. 
Hence, Option C is the correct answer. 


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