Question 202213: at the age of 42 enrique chavez was starting thinking more and more about retirement. After 17 years of running one of the bay area'a tattoo palor. he decided to take on his niece Diana. After she got her pierecing cerfiticate. Diana came to work full time. Between her salary and benefits she was costing the business 1,000 per month. Enrique kept very detailed records and her first months of sales were a bit disappointing. Piercing offered as category I II III and cost 35, $55, and $75 for stainless steel jewerly respectively and $55, 85, and $120 for gold. Diana sold five category I two categoryII and three category IIIin stainless and one each categories I,II, III in gold.
1. Find the mean,median, and mode for diana first month of sales
2. Given the total sales value for Diana first month how long will it take for her to break even with her salary and benefits assuming a 10 percent increase in sales value each month ? Is the increase is more likely to come from increased number of sales or a higher average sales value?
3.Diana second month results shows that she makes six sales at $35, three at $75 and two at $120 calucualte the standard deviation indicate that this is a normal distribution ? If not what are the implia=cations?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Diana came to work full time. Between her salary and benefits she was costing the business 1,000 per month. Enrique kept very detailed records and her first months of sales were a bit disappointing. Piercing offered as category I II III and cost 35, $55, and $75 for stainless steel jewerly respectively
and $55, 85, and $120 for gold.
Diana sold five category I [5*35= 175]
two categoryII [2*55 = 110]
and three category IIIin stainless [3*75 = 225
and one each categories I,II, III in gold. [55+85+120 = 260]
1. Find the
mean,= [175+110+225+260]/13 = 59.23
median,There are 13 elements. The 7th is 55
and mode for diana first month of sales is 35
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2. Given the total sales value for Diana first month how long will it take for her to break even with her salary and benefits assuming a 10 percent increase in sales value each month ?
Total sales value in 1st month is 770
Solve 770*1.10^t = 1000
1.10^t = 1.298
t*log(1.10) = log(1.298)
t = 2.73...
It will take 3 months for her to break even with her salary and benefits.
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Is the increase more likely to come from increased number of sales or a higher average sales value?
More sales
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3.Diana's second month results shows that she makes six sales at $35, three at $75 and two at $120 calucualte the standard deviation indicate that this is a normal distribution ? If not what are the implications?
I'll leave #3 to you.
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Cheers,
Stan H.
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