Question

1st half year sales volume
5 oz is 20%
10oz is 30%
15oz is 50%

2nd half year sales volume:
5 oz is 30%
10oz is 40%
15oz is 30%

What is average oz sold for that year?

Answer 1

Alright, so the average of a quantity is the summation of each individual quantity multiplied by it's probability. In this case, we are dealing with an interesting set up, so we'll take it apart a bit.

What we'll do is take each quantity (for example, 5) and multiply it by the percent next to it. Do this for each term. Sum them up. Then divide by the total percents.

This may be a little confusing, so I'll demonstrate if you want.

Answer 2

This is how i calculated mine:
5 oz (20) + 5oz (30)= 250
10 oz (30)+ 10 (40)= 700
15 oz (50) + 15 (30)= 1200

Total is 2150/6= 358.33?

Answer 3

Very close. Your first step was correct. You need to divide by the summation of the weighting factors (20+30+50+30+40+30 = 200)

Answer 4

ohh ok so 2150/200?

Answer 5

Yeah. Always ask if your answer makes sense.

You are averaging between three values, 5, 10, and 15. Your answer will be somewhere in the range between 5 and 15.

Answer 6

ya i knew that i was almost there but not quite..but in this case i take the total weighted values for each year and divided by the total for both years to get my average for those years right

Answer 7

Yeah. You're given the percents of each sold in two different half years, which is why the set up is a little odd. So, each half year has a maximum percent of 100, making 200% the maximum for a full year.

Answer 8

For this question...can I show you how I would do it?

Answer 9

A new company will release 3 new products (A, B, C). 20% of buyers will buy A, 55% will buy B and 25% will buy C. People that buy A will buy 1.5 units, B 2.5 and C .75. What percent of total sales is Product B?

Answer 10

PA 20 (1.5)= 30
PB 55 (2.5)= 137.5
PC 25 (.75)= 18.75
Total= 186.25
therefore, 137.5/186.25 is approx 74%

Answer 11

Looks fine to me!

Answer 12

Great- thank you for verifying...it was very helpful

Answer 13

What about this? I have an idea how to get it but not sure how to properly show it:
Out of a random sample of 500, 75 like oranges. How much more sample should be taken in order to reach the no 100 who like oranges

Answer 14

So, there isn't REALLY a solid way to answer this question, as we have no information to base where our current results are distributed statistically over the population.

However, if we assume that our 500 results follow the normal population distribution, it's a simple ratio.

75:500 :: 100:X

Answer 15

So, 500/75= 15% like orange
To find 100 people in total that like oranges I need to do
100/.15= 666.67
so 666.67-500= 166.67 more people?

Answer 16

That'll do it as well :)

Answer 17

The one caution I'd use is that you can't question 0.67 of a person, so you'll likely want to round to a whole person.

Answer 18

how would you calculate this question?

Answer 19

You did it correctly, it just that you can either ask a person or not, you can't ask 2/3 of a person. Therefore, a decimal doesn't really make sense.

You may want to check with your teacher about rounding, however. They may want the decimal, and it's really up to them.

Answer 20

But I guessed...like I understand when I checked I did
666.67 x .15= 100

But how does 100/.15 make sense?

Answer 21

Ah, alright. 75/500 =.15. This means that 15% of the people polled so far have like oranges.

Assuming the 15% holds, we need an amount for which 15% of it is 100. This gives us the equation:

0.15*X = 100

Solving for X:

X= 100/0.15

Answer 22

I still don't get .15x100 though because I see it like out of 100 people .15 of them like oranges (the number i get) but how is it possible that its more than 100?

Answer 23

Alright, so we know that 15% of people like oranges.

We want to find 100 people who like oranges.

So, we need to find a number such that 15% of it is 100:

15% of X = 100
0.15*X = 100

Answer 24

Ok so that goes back to the finding x formula

Answer 25

Great- thanks again for your help....you have made things a lot clearer to me! I appreciate it so much.

Answer 26

Not a problem. Good luck! And remember, math isn't difficult, so don't make it more difficult than it needs to be!

Answer 27

Ya I sometimes have an idea of how to get the answers...but I get so caught up on using the correct formula. That's why my answers are always incomplete.

Answer 28

Trust yourself, and when you reach the end just ask yourself if the answer makes sense. If it does, check the work, and then move on.

From what I've seen so far, you know what you're doing.

Answer 29

Great- thanks for the advice. We're really lucky to have people like you to clarify things!