In June an investor purchased 320 shares of Oracle an inform

In June, an investor purchased 320 shares of Oracle (an information technology company) stock at $17 per share. In August, she purchased an additional 380 shares at $18 per share. In November, she purchased an additional 440 shares, but the stock declined to $16 per share.

What is the weighted mean price per year? (Round your answer to 2 decimal places)

Weighted Mean: $_____________

Solution

The weighted mean price per year is:

320*17+380*18+440*16/(320+380+440)

=16.94

In June, an investor purchased 320 shares of Oracle (an information technology company) stock at $17 per share. In August, she purchased an additional 380 share

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