Question: Question 4 To find an appropriate average for the value of stocks in a portfolio a weighted average is used. The price of each stock

Question 4

To find an appropriate average for the value of stocks in a portfolio a weighted average is used. The price of each stock can be treated as individual data points, while the number of stocks can be treated as the associated weights.

Colin has an investment portfolio with 49 stocks priced at $4.19, 65 stocks priced at $3.01, 65 stocks priced at $1.61, and 97 stocks priced at $2.24. Find the weighted average price of the stocks in Colin's portfolio. Express your answer in dollars, rounded to the nearest cent.

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