SOLUTION: Can somebody help me please? The problem states that a company had sales of $500,000 in 1996 and sales of $720,000 in 1998. Use the midpoint formula to find the company's sales in

Algebra ->  Algebra  -> Length-and-distance -> SOLUTION: Can somebody help me please? The problem states that a company had sales of $500,000 in 1996 and sales of $720,000 in 1998. Use the midpoint formula to find the company's sales in       Log On

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Question 198306: Can somebody help me please? The problem states that a company had sales of $500,000 in 1996 and sales of $720,000 in 1998. Use the midpoint formula to find the company's sales in 1997. I will appreciate if you can help me.
Found 2 solutions by jim_thompson5910, MCAT:
Answer by jim_thompson5910(28595) About Me  (Show Source):
You can put this solution on YOUR website!
Simply average the years to get: %281996%2B1998%29%2F2=3994%2F2=1997. So the midpoint in between 1996 and 1998 is 1997 (which is expected)


Since we averaged the years, we need to average the sales figures: %28500000%2B720000%29%2F2=1220000%2F2=610000


So the company's sales in 1997 was $610,000.

Answer by MCAT(6) About Me  (Show Source):
You can put this solution on YOUR website!

The question is asking you to basically find the mean of the data:
Mean=(Data 1+ Data 2)/(divided)Number of data
Our data here are $500,000 and $720,000, so here is the equation:
Company's sales in 1997(mean)=($500,000+$720,000)/2
=$1,220,000/2
=$610,000
Therefore, the company's sales in 1997 were worth $610,000 (estimation)