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Answer :
Final answer:
To calculate the average selling price of the trailers, you divide the total gross sales by the number of trailers sold. This average selling price is a key indicator of a company's pricing strategy.
Explanation:
The student's question requires the understanding of the basic concept of average, which is a common parameter in many scenarios including sales analytics. Base on the student's question the company's gross annual sales was not provided but the concept to find the average cost of each trailer can still be explained.
In order to find the average selling price for each trailer, you would need to divide the total gross annual sales by the number of trailers sold in that year. For example, if the company made $10000 in sales and sold 50 trailers, the average selling price would be $10000 divided by 50, which is $200.
Average selling price
Average selling price is the total sale price divided by the total number of items. It's a parameter often used to evaluate the pricing strategy of a company.
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The solution for finding out the average selling price for each trailer is given below: Let, The gross annual sales for the company be $GThe number of trailers sold be The selling price of each trailer be SP.
Gross annual sales = number of trailers sold × selling price of each trailer G = n × SP Now, from the given information, we have the value of gross annual sales as $G. However, we do not have the value of n (number of trailers sold) and SP (selling price of each trailer) individually to solve for SP and calculate the average selling price of each trailer.The question doesn't provide information regarding the number of trailers sold or the selling price of each trailer separately to calculate the average selling price of each trailer. Therefore, we cannot calculate the answer to this question. We need one more piece of information to find the solution.
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