Question

Stores such as Sam's Club and Price-Costco charge an annual membership fee of approximately $40. As a member you can purchase products at lower prices, but typically in larger quantities than one buys at ordinary stores. Savings vary from product to product, but for this question, let us assume you can save $20 for every $100 of retail price or a 20% savings off of retail compared to shopping elsewhere.

a. Suppose you buy $100 of retail priced product in one year at such a store. Do you come out ahead? How much do you save (or lose?) compared to not having membership and paying full

Answer 1

@_Michaeld22 I'm starting too rely on this guy XD he's so helpful

Answer 2

Okay this one is confusing me too much. The closest I could figure it out: In this instance, you save 20%. You buy $100 worth of retail products... So you pay $80 for it, while others pay $100. But, you also have to pay $40 a year for a membership.
Regular customers = $100
You = $120.
Sorry if that's confusing :(

Answer 3

That's for replying. I'm confused with this problem and its questions. But yeah it's okay I understand what you are saying. Thank you for the help! It's useful!!!
:)

Answer 4

No worries (:

Answer 5

I'm asked to do a table in excel showing the retail amount i'd spend in the first column with the corresponding overall sayings in the second column. Starting with zero dollars and going up to $600 in increments of $100. Theni i'm asked how much do i have to spend at the store for it to be worthwhile for me to buy a membership?

Answer 6

:/ not sure how I would i would do this table.

Answer 7

Retail Spent Savings
100 20%
200 40%
300 60%
400 80%
500 100%
600 120%

Answer 8

I did that.. but i dont think thats right :(

Answer 9

Hmm. Give me a minute, I gotta think about this.

Answer 10

If it's 20%, then for $100, you would save $20. For $200, you would save $40. $300, you would save $60. And so on.

Answer 11

Ah! I see !

Answer 12

I have two more questions I need help with. If you do not mind!

Answer 13

Don't mind at all. If I know what to do, then I'll help the best I can.

Answer 14

The amount you save (or lose) by buying membership is a linear function of how much you spend. Explain why.

What are the two variables in this function? Assign each variable a letter. Write the linear equation for your savings as a function of how much you spend at the store.

Answer 15

Whew... This is algebra isn't it? I haven't done that for almost 2 years.. I'm just gonna flat out say that I don't know these, sorry man :(

Answer 16

its alrighttt. the class is called Quantity and Reasoning :/