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Average income

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Average income

by caspermonday » Thu Oct 22, 2009 5:24 am
10 households have incomes ranging from $34,000 to $150,000. Average income = $60,000. If we exclude the household with the highest income and the household with the lowest income, what is the average income of the remaining 8 households?

a. 41,000
b. 47,000
c. 52,000
d. 61,000
e. 75,000

OA C
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by papgust » Thu Oct 22, 2009 5:55 am
We know that the incomes are ranging from 34000 to 150,000. Hence, 34000 is the lowest and 150,000 is the highest.

Now, sum of 10 household incomes = 60,000*10 = 600,000

Excluding lowest and highest = 600,000 - 150,000 - 34000 = 416,000

Therefore, Avg of remaining 8 household incomes = 416000/8 = 52,000
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by caspermonday » Thu Oct 22, 2009 5:56 am
Right again!)
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