Average Price Calculator

Formula

The formula to calculate Average Price (AP) is:

\[ AP = \frac{P_1 + P_2 + \ldots + P_X}{X} \]

Where:

$ AP $ is the Average Price ($)
$ P_1, P_2, \ldots, P_X $ are the different prices ($)
$ X $ is the number of different prices

What is Average Price?

The average price is the sum of all prices divided by the number of prices. It provides a measure of the central tendency of the prices, giving an idea of the typical price in the set.

Example Calculation

Let's assume the following prices:

Price 1 (P1) = 10 dollars
Price 2 (P2) = 20 dollars
Price 3 (P3) = 30 dollars
Price 4 (P4) = 40 dollars
Price 5 (P5) = 50 dollars

Using the formula to calculate the Average Price:

\[ AP = \frac{10 + 20 + 30 + 40 + 50}{5} = \frac{150}{5} = 30 \text{ dollars} \]

The Average Price (AP) is 30 dollars.