Textbook prices have a seasonal structure on Ebay At the end

Last updated: 10/17/2023

Textbook prices have a seasonal structure on Ebay At the end of a term the supply of used books outstrips demand and the price is lower Near the start of a term many students are looking for books and the price is higher Suppose we can classify sales for a particular chemistry textbook into these two time periods and an other time period in the proportions shown below We have also listed the average price the textbook sells for in each of these three time periods Sales proportion Average price Start of term 0 45 82 52 End of term 0 31 49 12 Other 0 24 65 23 For example about 45 of Ebay auctions for this chemistry textbook occur at the start of the term and the books sell for an average of 82 52 during this time Using the information above compute the average price of the textbook over all seasons Do not put a dollar sign in your answer