What was the average cost of 1 lb ground beef?

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Multiple Choice

What was the average cost of 1 lb ground beef?

Explanation:
Average cost means the mean of the observed prices for 1 lb ground beef. To get it, you add up every price in the data and divide by how many prices there are. The result is the single value that best represents the typical cost across all observations. In this problem, the data yield an average of 6.74 dollars per pound, so that amount is the best summary of the dataset. The other numbers reflect individual prices you might see, but they don’t summarize all observations the way the average does.

Average cost means the mean of the observed prices for 1 lb ground beef. To get it, you add up every price in the data and divide by how many prices there are. The result is the single value that best represents the typical cost across all observations. In this problem, the data yield an average of 6.74 dollars per pound, so that amount is the best summary of the dataset. The other numbers reflect individual prices you might see, but they don’t summarize all observations the way the average does.

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