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# What is the mean of average household income? Less than \$25,000 10 \$25,000 to \$34,999 4...

What is the mean of average household income?

 Less than \$25,000 10 \$25,000 to \$34,999 4 \$35,000 to \$49,999 2 \$50,000 to \$74,999 9 – \$75,000 to \$99,999 6 \$100,000 to \$149,999 3 \$150,000 or more 10 TOTAL 44

The mid-points of the classes are = [(0 + 25000)/2 = 12500, (25,000 + 35000)/2 = 30000, (35000 + 50000)/2 = 42500, (50000 + 75000)/2 = 62500, (75000 + 100000)/2 = 87500, (100000 + 150000)/2 = 125000, (150000 + 200000)/2 = 175000] (Assuming 200000 to be the upper bound of the last class).

The mean average household income is = [(12500 * 10) + (30000 * 4) + (42500 * 2) + (62500 * 9) + (87500 * 6) + (125000 * 3) + (175000 * 10)] / (10 + 4 + 2 + 9 + 6 + 3 + 10) = \$80511.36 (Ans).

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