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A sales consultant found the arithmetic average price charged for a three litre bottle of Parmalat milk was 376.9 cents when surveying 19 stores. An additional two stores were then surveyed, with the retail prices being found to be $3.7 and $3.96. Determine the new arithmetic average price charged for a three litre bottle of milk for the full sample (price to be in cents, correct to one decimal place).
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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