Find the average rate of return for six different stocks (stock 1: 5%; stock 2: 7%; stock 3: 8%; stock 4: 4.5%; stock 5: 9%; stock 6: 5%) rounded to the nearest hundredth.
Average return is obtained by summation of all the stock returns and dividing it by the total number of stocks. In these case there are total of 6 stocks. The total return from these 6 stocks is 40. Therefore, the average return is obtained by dividing 40 with 6. Hence the average return is 6.6%.
