Julie the Jeweler has fifteen gold necklaces worth $120 each, nine silver necklaces valued at $90 each, ten plated necklaces valued at $60 each and thirty beaded necklaces worth $15 each. What is the average value of a necklace at Julie’s shop? (round to two decimal places)
Use the same method as finding the grade point average.
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To find the average value of a necklace at Julie's shop, we need to calculate the total value of all the necklaces and then divide that by the total number of necklaces.
First, let's calculate the total value of all the gold necklaces. We know that Julie has fifteen of them, each worth $120, so the total value of gold necklaces is 15 * $120 = $1800.
Next, let's calculate the total value of the silver necklaces. We know that Julie has nine of them, each worth $90, so the total value of silver necklaces is 9 * $90 = $810.
Then, let's calculate the total value of the plated necklaces. We know that Julie has ten of them, each worth $60, so the total value of plated necklaces is 10 * $60 = $600.
Finally, let's calculate the total value of the beaded necklaces. We know that Julie has thirty of them, each worth $15, so the total value of beaded necklaces is 30 * $15 = $450.
Now, let's calculate the total value of all the necklaces by adding up the values we calculated for each type of necklace:
Total value = $1800 + $810 + $600 + $450 = $3660.
We also need to calculate the total number of necklaces. Julie has 15 gold necklaces, 9 silver necklaces, 10 plated necklaces, and 30 beaded necklaces, so the total number of necklaces is 15 + 9 + 10 + 30 = 64.
Finally, to find the average value of a necklace, we divide the total value by the total number:
Average value = total value / total number = $3660 / 64 = $57.19 (rounded to two decimal places).
Therefore, the average value of a necklace at Julie's shop is approximately $57.19.