Question

5 patrick recorded the daily changes of the value of a stock in dollars: -3.40, -8.09, -2.47, 1.86, and 3.55. what was the average daily change in the stocks value in dollars? show your work. solution:

Explanation:

Step1: Calculate the sum of the daily changes

$$\begin{align*} &-3.40+( - 8.09)+(-2.47)+1.86 + 3.55\\ =&-(3.40 + 8.09+2.47)+(1.86 + 3.55)\\ =&-13.96+5.41\\ =&-8.55 \end{align*}$$

Step2: Calculate the average

The number of data points \(n = 5\). The formula for the average \(\bar{x}=\frac{\sum_{i = 1}^{n}x_{i}}{n}\). So \(\bar{x}=\frac{-8.55}{5}=-1.71\)

Answer:

The average daily change in the stock's value is \(-1.71\) dollars.