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In June, an investor purchased 375 shares of Oracle (an information technology company) stock at $22...

In June, an investor purchased 375 shares of Oracle (an information technology company) stock at $22 per share. In August, she purchased an additional 250 shares at $24 per share. In November, she purchased an additional 450 shares, but the stock increased to $32 per share. What is the weighted mean price per share? (Round your answer to 2 decimal places.)

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Answer #1

Let X be the share price of Oracle.

X1 = $22, X2 = $24 and X3 = $32

Let n be the number of shares

Where, n1 = 375, n2 = 250 and n3 = 450

We want to find the weighted mean price per share.

Therefore, the weighted mean price per share is $26.65

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