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20. Two employees of a company have to file expense reports for their travel. The first had taken 7 trips with a mean trip cost of $750. The second took a total of 5 trips with a mean cost of $1200. The accounting department wants to determine the mean cost of all the trips that these two employees took. What is the mean cost of all 12 trips? Proposed Solution: Since we have two costs (one for each employee) we can find the mean cost of both employees by the following computation: (750 + 1200) / 2 = 975 What was done wrong in the proposed solution?

Respuesta :

Since there are 7 trips with a mean cost 750 and 5 trips with mean cost 1200, the calculation should be [tex](7\times 750+5\times 1200) \div 12[/tex]

  • The calculation is as follows:

We know that

Mean cost =  Total cost ÷  total number of trips

Here, Total number of trips(observation ) =  7+5 = 12

Total cost = total cost of two employees

total cost of first employee = [tex]7\times 750[/tex]

And, total cost of second employee = [tex]5\times 1200[/tex]

So,

Mean cost of 12 trips = [tex](7\times 750+5\times 1200) \div 12[/tex] = 937.50

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