small stats problem

dmillionaire

New member
Joined
Sep 15, 2013
Messages
49
Gen-trade charges commission of 1.5% on odd lot trades for self-directed accounts. It charges 0.5% commission on standard lot trades for self-directed accounts and 4% commission on broker-managed accounts. If Gen-trade did 735 odd lot self-directed trades, 2,122 regular lot self-directed trades and 450 broker-managed trades, what was the average commission charged per trade?

would i go like this?

0.015 x 735 = 11.025
0.005 x 2122 = 10.61
0.04 x 450 = 18

11.025 + 10.61 + 18 = 39.635/3 =13.2116

its asking for the average commission though which i am a little confused on hos to get at.
 
Or would it be

1.5 x 735 = 1102.5
.5 x 2122 = 1061
4 x 450 = 1800

=3963.5

735 + 2122 + 450 = 3307


3963.5/3307 = 1.1168 = 1.12% ?
 
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