Share prices over six sessions closed at Rs 180 each day except once when they closed at Rs 204. Which summary equals Rs 184 per session if misapplied as a typical closing price for each session?
Q1. Share prices over six sessions closed at Rs 180 each day except once when they closed at Rs 204. Which summary equals Rs 184 per session if misapplied as a typical closing price for each session?
Answer: Mean closing price
Explanation: Mean = (180×5 + 204)/6 = (900+204)/6 = 1104/6 = Rs 184; the mean closing price equals Rs 184.