SOLUTION: The Lotte Valentin Inc., a lead denim manufacturer in San Diego, California, has production sites in four different counties. Their key products are skinny jeans (40% of total prod
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-> SOLUTION: The Lotte Valentin Inc., a lead denim manufacturer in San Diego, California, has production sites in four different counties. Their key products are skinny jeans (40% of total prod
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Question 1199389: The Lotte Valentin Inc., a lead denim manufacturer in San Diego, California, has production sites in four different counties. Their key products are skinny jeans (40% of total production), straight leg jeans (33% of total production) and jeggings (27% of total production). Each of these products come in two styles - stone washed (48%) and plain (52%). Their monthly production cost is $700,000. All products in both styles are produced at all the four sites.
2. The analysts at the Lotte Valentin Inc. intend to draw a sample for a quick analysis. Propose a probability sampling technique elucidating the steps clearly.
3. The following tables the sale price for each product.
Selling prices Skinny Jeans Straight Leg Jeans Jeggings
Stone Washed $120 $83 $75
Plain $85 $70 $50
Given that 10,000 units were produced last month, what is the revenue generated for each product line? Comment about the status of business at the Lotte Valentin Inc. Explain thoroughly.
4. (a) If it is known that the product is a stone washed jeans what are the chances that it is a skinny jeans?
(b) What is the probability that one chances on a plain straight leg jeans?
(c) What is the probability that one chances on a jeggings?
(d) What is the probability that one chances on a plain jeans?
