Enter the up to 5 different prices ($) and the number of different prices into the Average Price Calculator. The calculator will evaluate and display the Average Price.
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Average Price Formula
The following formula is used to calculate the Average Price.
AP = (P1+P2+PX) / X
- Where AP is the Average Price ($)
- P1-PX is the up to 5 different prices ($)
- X is the number of different prices
How to Calculate Average Price?
The following example problems outline how to calculate Average Price.
Example Problem #1:
- First, determine the up to 5 different prices ($).
- The up to 5 different prices ($) is given as: 6,10,5,8.
- Next, determine the number of different prices.
- The number of different prices is provided as: 4.
- Finally, calculate the Average Price using the equation above:
AP = (P1+P2+PX) / X
The values given above are inserted into the equation below:
AP = (6+10+5+8) / 4 = 7.25 ($)
Example Problem #2:
For this problem, the variables needed are provided below:
up to 5 different prices ($) = 9,11,20,30
number of different prices = 4
This example problem is a test of your knowledge on the subject. Use the calculator above to check your answer.
AP = (P1+P2+PX) / X = ?
