SOLUTION: Please help me solve this problem. An investor bought 150 shares of Fly-Hi Airlines stock. He paid $60 per share for 50 shares, $50 per share for 60 shares, and $75 per share

Algebra ->  Probability-and-statistics -> SOLUTION: Please help me solve this problem. An investor bought 150 shares of Fly-Hi Airlines stock. He paid $60 per share for 50 shares, $50 per share for 60 shares, and $75 per share       Log On


   



Question 391681: Please help me solve this problem.

An investor bought 150 shares of Fly-Hi Airlines stock. He paid $60 per share for 50 shares, $50 per share for 60 shares, and $75 per share for 40
shares. What was his average cost per share?

Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
An investor bought 150 shares of Fly-Hi Airlines stock. He paid $60 per share for 50 shares, $50 per share for 60 shares, and $75 per share for 40
shares. What was his average cost per share?
...
average price = total price / total number of shares
Average price = %2860%2A50%2B50%2A60%2B75%2A40%29%2F150
Average price = $60
...
m.ananth@hotmail.ca