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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(35256)   (Show Source):
You can put this solution on YOUR website! Simply average the years to get:  . 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: 
So the company's sales in 1997 was $610,000.
Answer by MCAT(6) (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)
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