Question

suppose the 2006 prices, per ton, of wine grapes for different kinds of wine are given in the following table.

variety	price
merlot	$1,400
zinfandel	$1,850
pinot noir	$1,050
chardonnay	$1,350
sauvignon blanc	$1,650

what is the mean? (round your answer to two decimal places.)
$

Explanation:

Step1: Sum all prices

Sum the prices: \(1400 + 1400 + 1850 + 1050 + 1350 + 1650\)
\(= 2800 + 1850 + 1050 + 1350 + 1650\)
\(= 4650 + 1050 + 1350 + 1650\)
\(= 5700 + 1350 + 1650\)
\(= 7050 + 1650 = 8700\)

Step2: Calculate the mean

There are 6 data points. Mean \(= \frac{\text{Sum}}{\text{Number of data points}} = \frac{8700}{6}\)
\(= 1450.00\) (rounded to two decimal places)

Answer:

\(1450.00\)