I don't understand how to do this problem.

Amount of revenue from ticket sales / # tickets sold = average

[ 20(1.25) + 38(3.50) + 12(4.00) + 50 (5.50) ] / ( 20 + 38 + 12 +50) =~~ $4.01 /tick

The average is given by

Total Revenue / Total Tickets Sold

Total Revenue = 20(1.25) + 38(3.50) + 12(4.00) + 50(5.50) = $481

And the total tickets sold = 20 + 38 + 12 + 50 = 120

So....the average price is 481 / 120 ≈ $4.01

The Average price is $4.01

We know this because the total Revenue/Tickets sold =481/120.

481/120=4.008333333 When rounded to the nearest hundreth becomes 4.01

Therefore the answer would be $4.01