A family has 4 members with an average income of $3000. If the father earns $400

A family has 4 members with an average income of $3000. If the father earns $4000, what is the average income of the other three members?

A family has 4 members with an average income of $3000. If the father earns $4000, what is the average income of the other three members?

Correct Answer: 2666.67

Step 1: Calculate the total income of the 4 family members by multiplying the average income by the number of members. Total income = 4 members * $3000 = $12000.
Step 2: Subtract the father's income from the total income to find the income of the other 3 members. Income of other 3 members = $12000 - $4000 = $8000.
Step 3: Calculate the average income of the other 3 members by dividing their total income by 3. Average income = $8000 / 3 = $2666.67.
Step 4: Round the average income to the nearest hundred for simplicity. The average income is approximately $2500.

Average Calculation – Understanding how to calculate the average income based on total income and number of members.
Total Income Calculation – Calculating total income from average income and number of members.
Subtraction for Remaining Income – Finding the income of remaining members by subtracting one member's income from total income.