Answer:
Approximately $103.37 per day
Step-by-step explanation:
As April has 30 days, we have to add together $523, $2340, and $238 to get the total balance for the entire month. In this case, the total balance is $3101. Now, referring back to April having 30 days, $3101÷30 days=$103.366666666 a day, when rounded to two decimal places, it equals $103.37 a day. So, the account's mean daily balance for April is approximately $103.37 a day.
Hopefully the explanation and the answer helps!
The mean daily balance will be 736.77
Weighted mean is the mean where some of the value contributing more than the other values.
Weighted mean can be calculated by dividing the sum of frequencies and value by the sum of the frequencies.
weighted mean= ∑fₙxₙ/∑fₙ
where f is the frequency and x is the value.
So according to asked question,
in April, balance is in such a way that $523 for 23 days, $2340 for only 4 days, and $238 for only 3 days.
x₁=$523 , f₁=23
x₂=$2340 , f₂=4
x₃=$238 , f₃=3
weighted mean= sum of the product frequency and value/sum of frequency
= ∑fₙxₙ/∑fₙ
= ((523*23)+(2340*4)+(238*3))/(23+4+3)
=22103/30
=736.7666≅736.77
Therefore the mean daily balance will be $736.77.
Learn more about weighted mean
here: https://brainly.com/question/23902866
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