What is the mean of cash back

Mathematics

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Answer

The mean of cash back, also known as the average cash back, is the total amount of cash back earned divided by the number of transactions or the total amount spent.

To calculate it:

  1. Sum all the cash back amounts received.
  2. Divide this total sum by the number of transactions or the total amount of spending.

For example, if you received 5cashbackononepurchaseand5 cash back on one purchase and 10 cash back on another, the total cash back is 15.Iftheseweretwotransactions,themeancashbackpertransactionis15. If these were two transactions, the mean cash back per transaction is 15 / 2 = $7.50.

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