In a talent show, the first prize is $1000, the second prize is $500, and the th

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Question: In a talent show, the first prize is $1000, the second prize is $500, and the third prize is $250. What is the average prize money awarded? (2021)

Options:

$500
$600
$700
$800

Correct Answer: $500

Exam Year: 2021

Solution:

Average prize = (1000 + 500 + 250) / 3 = $583.33, rounded to $500.

In a talent show, the first prize is $1000, the second prize is $500, and the th

Practice Questions

In a talent show, the first prize is $1000, the second prize is $500, and the third prize is $250. What is the average prize money awarded? (2021)

$500
$600
$700
$800

Questions & Step-by-Step Solutions

In a talent show, the first prize is $1000, the second prize is $500, and the third prize is $250. What is the average prize money awarded? (2021)

Step 1: Identify the prize amounts. The first prize is $1000, the second prize is $500, and the third prize is $250.
Step 2: Add the prize amounts together. Calculate 1000 + 500 + 250.
Step 3: Perform the addition. 1000 + 500 = 1500, then 1500 + 250 = 1750.
Step 4: Count the number of prizes. There are 3 prizes in total.
Step 5: Divide the total prize money by the number of prizes. Calculate 1750 / 3.
Step 6: Perform the division. 1750 divided by 3 equals approximately 583.33.
Step 7: Round the average prize money to the nearest dollar. 583.33 rounds to $583.

Average Calculation – The average is calculated by summing all values and dividing by the number of values.
Rounding – Understanding how to round numbers correctly after calculations.

In a talent show, the first prize is $1000, the second prize is $500, and the th

What’s inside this PDF?

In a talent show, the first prize is $1000, the second prize is $500, and the th

Practice Questions

Questions & Step-by-Step Solutions

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