A portfolio manager invests EUR5,000 annually in a security for four years at the following prices: The
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A portfolio manager invests EUR5,000 annually in a security for four years at the following prices:
The average price is best represented as the:
A. harmonic mean of EUR76.48.
B. geometric mean of EUR77.26.
C. arithmetic average of EUR78.00.
Transcribed Image Text:
Exhibit 1: Five-Year Purchase Prices Year Year 1 Year 2 Year 3 Year 4 Purchase Price (euros per unit) 62.00 76.00 84.00 90.00
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