The table below shows the distribution of weekly expenditures (in thousands of Naira, ₦'000) of a group of market traders:
| Expenditure (₦'000) | Frequency () |
|---|---|
| 10 | 5 |
| 20 | 8 |
| 30 | |
| 40 | 4 |
| 50 | 3 |
If the mean weekly expenditure of the traders is ₦28,000 (represented as in the table units), find the value of .
Answer: 20
Answer
The value of is 20.
Using the arithmetic mean formula , we set up the equation with the given mean of 28: . Cross-multiplying gives . Rearranging terms yields , which gives .
Step-by-Step Solution
Key Concept
Finding a missing frequency from a frequency distribution given the arithmetic mean.