In June an investor purchased 250 shares of Oracle (an information technology company) stock at $20 per share. In August she purchased an additional 400 shares at $27 per share. In November she purchased an additional 590 shares at $29 per share. What is the weighted mean price per share? (Round your answer to 2 decimal places. Omit the "$" sign in your response.)

[tex]\text{Weighted mean} = \displaystyle\frac{\sum w_ix_i}{\sum w_i}\\\\\sum w_ix_i = 250(20) + 400(27) + 590(29) = 32910\\\\\sum w_i = 250 + 400 +590 = 1240\\\\\text{Weighted mean} = \frac{32910}{1240} = 26.54[/tex]

The weighted mean share price is $26.54

deepakrai138 deepakrai138 · Answer 2 · 2022-01-07T06:29:26+01:00

The weighted mean price per share will be 26.54 dollars.

Given,

In June investor purchased 250 shares, at $20 per share.

So total investment in June will be ,

[tex]250\times20= 5000[/tex] dollars.

In August she purchased an additional 400 shares at $27 per share.

So total investment in August will be,

[tex]400\times27=10800[/tex] dollars.

In November she purchased an additional 590 shares at $29 per share.

So the total cost in November will be,

[tex]590\times29=17110[/tex] dollars.

So, total investment in all the 3 months will be,

[tex]5000+10800+17110=32910[/tex] dollars.

Now,

total number of shares she purchase in all 3 months will be,

[tex]250+400+590=1240[/tex] shares.

The weighted mean price per share will be,

[tex]\dfrac{32910}{1240}=26.54[/tex]

Hence the mean price per share is 26.54 dollars.

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