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Bunuel
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Statement 1:
Taking the critical point that is 550 and use average formula:
We see that the the average is less than 22. But when greater than 550, avg could be more than 22.
INSUFFICIENT.

Statement 2:
Taking 40*15 = 600.
Using avg formula we see that we get:
Avg = 22.
But each is less than 40.
Thus avg is less than 22.
SUFFICIENT.

Answer: Option B
Bunuel
A neighborhood library purchased 45 paperback copies of a novel at an average price of $16 per copy. It then decided to buy 15 hardcover copies of the same novel as well. Was the average (arithmetic mean) price per copy of all 60 books less than $22?

(1) The total cost of the 15 hardcover copies bought was more than $550
(2) Each hardcover copy cost less than $40.

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Let the cost of each hardcover copy be p.
Then:

(720 + 15p) / 60 < 22
720 + 15p < 1320
15p < 600
p < 40

So the question becomes:
Is p < 40?

Statement (1)
The total cost of 15 hardcovers was more than $550
15p > 550
p > 36.67
Could be:
p = 38=> Yes
p = 45=> No
Not sufficient

Statement (2)
Each hardcover copy costs less than $40
p < 40
This directly answers the question.
Sufficient

Ans B

Bunuel
A neighborhood library purchased 45 paperback copies of a novel at an average price of $16 per copy. It then decided to buy 15 hardcover copies of the same novel as well. Was the average (arithmetic mean) price per copy of all 60 books less than $22?

(1) The total cost of the 15 hardcover copies bought was more than $550
(2) Each hardcover copy cost less than $40.

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