141(8) The Banks Brothers Men\'s Clothiers, a regio of des product has been prof
ID: 3320681 • Letter: 1
Question
141(8) The Banks Brothers Men's Clothiers, a regio of des product has been profitable whenever it is introduced into a district containing 500,.000 or more huse whose gross annual purchase of men's clothing amounts to at least $350. Data on the three districts are shown below nal chain of stores, is considering introducing a new line igner clothes into some or all of the following districts. The marketing research staff reports that the Annual Purchases Standard Number of Households Mean Median Mode Deviation 1,250,000 377 360 District Ohio St. Lawrence 1,000,000 365 340 310 20 Yukon 358 38 1,350,000 353 352 350 10 (a) In your opinion, is Ohio a good candidate for a new store? Substantiate your answer (b) In your opinion, is St. Lawrence a good candidate for a new store? Substantiate your answer.Explanation / Answer
A):
YES, OHIO is a good candidate for a new store as in the distribution of ohio annual purchase with MEAN is 377 MEDIAN 360 and MODE is 358 ehich clearly indicates that the annual purchase is greater than 350 and for OHIO all the three measures of central tendency are above 350 mark. also median>350 which shows that more than 50% times OHIO's annual sale is more than 350.
B):
No, ST.LAWRENCE is NOT a good candidate for a new store as in the distribution of his annual purchase with MEAN is 365 MEDIAN 340 and MODE is 310 which clearly indicates that the annual purchase is not greater than 350 most of the times or for majority of time his annual purrchase is less than 350 and for him MEDIAN and MODE measures of central tendency are BELOW 350 mark. also median<350 which shows that more than 50% times his annual sale is less than 350.
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