1.

Estimate the mean price of a pair of sunglasses sold at (a) an optical store (b) A sunglasses specialty
store, and(c) a department store. Use 200 as the midpoint for 151+.

Answer

A. Mean Price of Optical store

C-I ∫ X ∫x Mean Price of Optical store

0 – 10 0 5 0
11 – 30 290 20.5 5945
31 – 50 3164 40.5 125142 ∑∫ x 735030
= = 76.03
51 – 75 1240 63 7812 ∑∫ 9668
76 – 100 3654 88 321552
101 – 150 842 125.5 105671
151 + 478 200 95600
9668 735030

B. A sunglasses specialty store

C-I ∫ X ∫x Mean Price of Sunglass Specialty store

0 – 10 192 5 960
11 – 30 708 20.5 14514
31 – 50 2515 40.5 101857.5 ∑∫ x 501630
= = 67.42
51 – 75 1697 63 106911 ∑∫ 7440
76 – 100 1145 88 100760
101 – 150 805 125.5 101027.5
151 + 378 200 75600
7440 501630

C. Mean price of department store

C-I ∫ X ∫x Mean price of department store

0 – 10 1224 5 6120
11 – 30 1464 20.5 30012
31 – 50 1527 40.5 61843.5 ∑∫ x 135071.5
= = 28.36
51 – 75 488 63 30744 ∑∫ 4762
76 – 100 38 88 3344
101 – 150 16 125.5 2008
151 + 5 200 1000
4762 135071.5
2. Which type of outlet had the greatest total revenue?

Answer.

x 5 20.5 40.5 63 88 125.5 200 Total Unit Total Revenue

Optical store 0 292 3164 1240 3654 842 478 9668 735030
Specialty 192 708 2515 1697 1145 805 378 7440 501630
Department 1224 1464 1527 488 38 16 5 4762 135072
Discount 8793 5284 147 67 16 8 0 14315 164874
Showroom 153 100 65 35 29 9 0 391 11334
Merchandise 6147 495 0 0 0 0 0 6642 40883
Supermarket 1410 316 0 0 0 0 0 14424 77108
8
Convenience 1972 2985 0 0 0 0 0 22711 159823
6
Chain Drug 1788 3432 50 0 0 0 0 21365 161796
3
Indep Drug 1352 1110 12 0 0 0 0 2474 30001
Chain apparel 3464 1804 186 112 40 17 7 5630 75945
Chain Sports 672 526 430 72 45 18 4 1767 43113
Ind Sports store 875 1997 1320 528 206 85 11 5022 163033

Reasoning : Optical stores have the greatest total revenue. This is calculated by assuming uniformity and using
the midpoint of the ranges. Total revenue is thus price multiplied by pairs sold

3. Which type of outlet had the greatest revenue per location? Explain your reasoning

Location Total Revenue Per

Revenue Location
Optical store 34043 735030 21.59
Specialty 2060 501630 243.51
Department 6866 135072 19.67
Discount 10376 164874 15.89
Showroom 887 11334 12.78
Merchandise 11868 40883 3.44
Supermarket 21613 77108 3.56
Convenience 83613 159823 1.91
Chain Drug 31127 161796 5.20
Indep Drug 7034 30001 4.27
Chain apparel 26831 75945 2.83
Chain Sports 5760 43113 7.48
Ind Sports store 14683 163033 11.10

Revenue per Location obtain by Divide the total Revenue from each store by the number of locations of stores

Reasoning : The sunglasses specialty store has the greatest Revenue per location
 4. Estimate the standard deviation for a pair of sunglasses sold at (a) optical stores, (b) sunglasses
specialty, (c ) Department store

Answer: a) optical stores

x X2 ∫ ∫x ∫ x2
5 25 0 0 0
20.5 420.25 290 5945 121872.5
40.5 1640.25 3164 128142 5189751
63 3969 1240 78120 4921560
83 7744 3654 321552 28296576
125.5 15750.25 842 105671 13261710.5
200 40000 478 95600 19120000
9668 735030 70911470

∫ x2 2
∫x
Standard deviation =
√ ∫
− ( )
∫

2
70911470 735030
=
√ 9668
−
9668 ( )
= √ 7335.42−¿ ¿

= √ 7335.42−5780.12

= √ 1555.3
= 39.43

(b) sunglasses specialty,

x X2 ∫ ∫x ∫ x2
5 25 192 960 4800
20.5 420.25 208 14514 297537
40.5 1640.25 2515 1018575 4125228.75
63 3969 1697 106911 6735393
83 7744 1145 100760 8866880
125.5 15750.25 805 101027.5 12678951.25
200 40000 378 75600 15120000
7440 501630 47828790
 ∫ x2 2
∫x
Standard deviation =
√ ∫
− ( )
∫

2
47828790 501630
=
√ 7440
−
7440 ( )
= √ 6428.60−¿ ¿

= √ 6428.60−4545.91

= √ 1882.69
= 43.38

(c ) Department store

x X2 ∫ ∫x ∫ x2
5 25 1224 6120 30600
20.5 420.25 1464 30012 615246
40.5 1640.25 1527 61843.5 2504661.75
63 3969 488 30744 1936872
83 7744 38 3344 294272
125.5 15750.25 16 2008 252004
200 40000 5 1000 200000
4762 135071.5 5833655.75

∫ x2 2
∫x
Standard deviation =
√ ∫
− ( )
∫

2
5833655.75 135071.5
=
√ 4762
−
4762 ( )
= √ 1225.04−¿ ¿

= √ 1225.04−4545.91

= √ 420.501
= 20.5
4. Standard Deviation Of the 13 distributions, which has the greatest standard deviation?
Explain your reasoning.

Answer:
Standard Deviation Of the
13 distributions
Optical Store 39.43
Specialty 43.38
Department 20.5
Discount 9.1
Showroom 29.01
Merchandise 4.07
Supermarket 2.26
Convenience 5.24
Chain Drug 5.95
Indep Drug 7.95
Chain apparel 15.76
Chain Sports 22.90
Ind Sports store 24.82

Sunglasses specialty, has the greatest standard deviation because it has more profit than other type of
stores

6. Bell-Shaped Distribution Of the 13 distributions, which is more bell shaped? Explain

By constructing histograms to all the given 13 distributions, we can clearly observe that distribution of sunglass
specialty store appeared to be more bell - shaped