The weekly expenditure (in dollars) of 5 families on groceries is: Family A = 250, Family B = 400, Family C = 350, Family D = 500, Family E = 300
Determine (i) Average expenditure, (ii) Family spending above average, (iii) Difference between the highest and the lowest expenditure.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. Average = $360, Families above average = B ,D, Difference = $250.
(i) Sum of expenditure = 250 + 400 + 350 + 500 +300 =1800
Average = 1800/5 = 360
(ii) Families spending above average (above 360): 400, 500 → 2 families (B and D)
(iii) Difference between the highest and the lowest expenditure = 500 - 250 = 250