Given an average, a low number, a high number and the total amount of numbers used (stated) to derive the average, is there a formula to determine what the value of each number was, that amounted to the average?
Example:
Average amount: $272
Highest amount: $548
Lowest amount: $22
Total numbers: 21 (e.g 21 people offering a range of bids on an item)
No, there is not. You have four equations in $21$ unknowns. You are given the lowest and highest, so really have two equations in $19$ unknowns. The fact that they are all within the range is not enough. In special cases, like when you know all the bids are exact numbers of dollars and all but the last are $1$ more than the previous, you can solve it.
