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Question:
To find the value of x that would make the average funds collected equal to $500, we need to calculate the total funds raised and then solve for x. The total funds raised is the sum of all the amounts collected:
Total funds raised = $525 + $350 + $275 + $630 + $1,010 + $275 + x
To find the average funds collected, we divide the total funds raised by the number of days (which is 7 in this case):
Average funds collected = (Total funds raised) / 7
We can set up an equation using the given average of $500:
$500 = (Total funds raised) / 7
Multiplying both sides of the equation by 7:
$500 * 7 = Total funds raised
$3,500 = $525 + $350 + $275 + $630 + $1,010 + $275 + x
Combining like terms:
$3,500 = $3,065 + x
To isolate x, we subtract $3,065 from both sides of the equation:
$3,500 - $3,065 = $3,065 + x - $3,065
$435 = x
Therefore, the value of x is $435.
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