Question
1,2,3 and 4 please!
At 42 years of age, Enrique Chavez was starting to think more and more about retirement. After 17 years of running one of the hay area's most popular tattoo parlors. Ink Hombre, he decided to take on a partner his 21-year-old bilingual niece Diana. Her words still echoed in his head-the same words she repeated every time someone left his shop to go elsewhere: "Tio, debe ofrecer la per-foracion del cuerpo: You should offer body piercing." She would go on to say, "Piercing gives people the opportunity to express their identity, just like a taltoo." She was right, of course. After she got her piercing certification, Diana came to work with Enrique full-time. But she didn't come cheaply. Between her salary and benefits, she was costing the business $ 1,000 per month! Enrique kept very detailed records, and her first month's sales were a bit disappointing. Piercings were offered as Category I, II, or III. and cost $35, $55, and $75 for stainless steel jewelry, respectively, and $55, $85, and $120 for gold. Diana sold five Category I, two Category II. and three Category III in stainless, and one each of categories I, II, and III in gold. Find the mean, median, and mode for Diana's first month of sales. Given the total sales value for Diana's 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 more likely in come from increased number of sales or a higher average sales value? Diana's second month results show that she made six sales at $35, two at $55, three at $75. three at $85, and two at $120. Calculate the standard deviation for this data set. Does your answer for the standard deviation indicate that this is a normal distribution? If not, what are the implications?
Explanation / Answer
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
2.
Total sales value in 1st month is 770
we have 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
3,
the average sales increased by 3 (16 - 13) and the total sales value went from $770 to $1040 so her higher sales value is raising her average.She has sold 8 studs less than the mean and 8 studs more than the mean which indicates a normal distribution. Obviously the more higher value studs sold the more profitable the business.
