Question

Sita Rahim keeps records of her expenditures. She wants to know how much she spends each month, on the average. Her records for three months are shown below. What is her average monthly expenditure to the nearest penny?
August = $3,156.00
September = $2,896.50
October = $2,666.00

Answer 1

Answer: $2906.17

Step-by-step explanation:

We know that the average of a data set is given by :-

$\text{Average}=\frac{\text{Sum of all observations}}{\text{Number of observations}}$

From the given data, the average monthly expenditure is given by :-

$\text{Average}=\frac{\text{3,156.00 +2,896.50+2,666.00}}{3}=\frac{8718.5}{3}=2906.16666667\approx 2906.17$

Hence, her average monthly expenditure to the nearest penny = $2906.17

Answer 2

$2906.17 am average is calculated by dividing the sum of all monthly expenditures by the number of months reported.