Suppose the monthly income (in Rs) of six families is given as: 1600, 1500, 1400, 1525, 1625, 1630. Find the mean family income.
Answer & explanation
Correct answer: option 3
The correct answer is option 3: Rs 1,547
The mean family income is obtained by adding up the incomes and dividing by the number of families.
AM= (1600 + 1500 + 1400 + 1525 + 1625 + 1630)/6
= 9280/6
= Rs 1,547