Agnessa Sells handmade jewelry at a flea market on weekends. Last month she sold 8 rings at $40 each, 10 necklaces at $94 each, 17 bracelets at $47 each, and 19 earrings at $72 each. What was the weighted average price per item sold? For full marks your answer(s) should be rounded to the nearest cent.

To find the weighted average price per item sold, we need to use the following formula:

\[
\text{Weighted Average Price} = \frac{\sum (\text{Price per item} \times \text{Quantity sold})}{\sum (\text{Quantity sold})}
\]

Given:
- Rings: 8 sold at $40 each
- Necklaces: 10 sold at $94 each
- Bracelets: 17 sold at $47 each
- Earrings: 19 sold at $72 each

Now, let's calculate the total revenue for each type of item:

\[
\text{Total Revenue for Rings} = 8 \times 40 = 320
\]
\[
\text{Total Revenue for Necklaces} = 10 \times 94 = 940
\]
\[
\text{Total Revenue for Bracelets} = 17 \times 47 = 799
\]
\[
\text{Total Revenue for Earrings} = 19 \times 72 = 1368
\]

Next, sum up these total revenues:

\[
\text{Total Revenue} = 320 + 940 + 799 + 1368 = 3427
\]

Now, calculate the total number of items sold:

\[
\text{Total Quantity Sold} = 8 + 10 + 17 + 19 = 54
\]

Finally, find the weighted average price per item sold:

\[
\text{Weighted Average Price} = \frac{3427}{54} \approx 63.46
\]

So, the weighted average price per item sold is **$63.46**.

Would you like more details on this solution or have any questions?

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Here are 5 related questions you might find interesting:
1. What is the average price per item if all items were sold at the same price?
2. How would the weighted average change if Agnessa sold 5 more earrings at the same price?
3. What would be the total revenue if each item was sold at its average price?
4. How does the weighted average price change if the number of items sold increases uniformly by 50%?
5. What is the percentage contribution of each item type to the total revenue?

**Tip:** Weighted averages are particularly useful when different categories contribute unequally to the total. This concept can be applied to various real-life situations, such as calculating grades, financial returns, or costs.

Learn how to calculate the weighted average price per item sold for Agnessa, who sells handmade jewelry. This problem involves finding the weighted average price using specific quantities and prices for rings, necklaces, bracelets, and earrings.

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