Patrick recorded the daily changes of the value of 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.
I got 1.71 but I think it might be wrong.
I added the changes and divided by 5 to get an average of $3.87
I got an average of $3.87 and I'm correct
To find the average daily change in the stock's value, you need to sum up all the daily changes and then divide it by the number of days.
Let's add up the daily changes:
-3.40 + (-8.09) + (-2.47) + 1.86 + 3.55 = -9.46
Next, divide the sum by the number of days, which is 5 in this case since there are 5 daily changes:
-9.46 / 5 = -1.892
Therefore, the average daily change in the stock's value is -1.892 dollars.
So, it seems that your answer of 1.71 dollars is incorrect. The average daily change is actually -1.892 dollars.
mean = ∑x/n
Since you just want change you can ignore direction. Use absolute values.
Disagree