Answer:
$7.28
Step-by-step explanation:
The average price, or the expected price, of any item in this specialty store is given by the weighted average of each item's price. That is, the sum of the products of each individual price by its corresponding sales mix:
[tex]AP =(0.16*\$3)+(0.32*\$5)+(0.52*\$10)\\AP=\$7.28[/tex]
The average price of any item in the store is $7.28
Answer:
7.28
Step-by-step explanation:
0.16 * 3 = 0.48
0.32 * 5 = 1.6
0.52 * 10 = 5.2
The sum of all these numbers gives you 7.28
