StudentShare
Search
Go to advanced search...
Free

# Task 5 PROBABILITY, STATISTICS, & QUANTITATIVE PROBLEM - Essay Example

Comments (0) Cite this document
Summary
Given that she is on a fixed income it will be important for her to receive the highest amount of savings when she purchases school supplies. It needs to be determined which company would…

## Extract of sample "Task 5 PROBABILITY, STATISTICS, & QUANTITATIVE PROBLEM"

Task A A is looking for the best option in purchasing school supplies. Company A is offering a discount of 10% for every dollar amount spent;Company B is offering a higher
discount of 20%, but the discount is only applicable after a \$20minimum is spent on supplies.
The student is looking for the company that will save her the most amount of money overall. Given that she is on a fixed income it will be important for her to receive the highest amount of savings when she purchases school supplies. It needs to be determined which company would save the student the most amount of money.
There are two options for the student to consider:
Firstoption is to purchase from company A, assuming it offers a discount of 10% on each dollar spent.
Second option is to purchase from company B, assuming it offers a discount of 20%, but it’s only gained if a dollar is spent on top of \$20
In this case let y is the amount of purchases from company B x is the amount spend in purchasing from company A
Company A;Let the discount be represented by x, it represents the cost subsequent to discount. Then equationsrelatingCompany A:
X= 0.90x
Company B; Let the discount be represented by y, it represents the cost subsequent to discount.Then equations relating Company B:
y20, y=0.80y +4 given y>20
Company A: Let the cost prior to discount be represented by x. Company A offers a discount of 10%. 10% of x is the discount. It is derived at by product of x and 10/100(0.1).Therefore 0.1x is the discount. The cost subsequent to discount is arrived at by deducting discount from cost subsequent to discount. Therefore cost subsequent to discount is x-0.1x=0.9x. Hence the cost before and after tax is X=0.9x.
Company B; let the cost prior to discount be represented by y. Company B wont award discount if y≤20. Hence cost subsequent to discount is y. We end up with the equation y= given y≤20. Incase y exceeds 20, company B will award 20% discount for any amount more than 20 dollars. The amount more than 20 dollars is y-20.discount is 20/100 of (y-20) =0.2x-4. The cost y subsequent to discount is given by 0.8x+4. Hence the cost before and after tax is connected by y=x given x≤20, y=0.8x+4 given y>20
Company A: The cost prior to discount is not more than 20 dollars. Systems of equations to be solved are x=0.9x, y=x and y=y .it implies that x=y=y. therefore x=0.9x hence dividing both sides by x we get 0.hence solution to the systems is x=o, y=0 and z=0. It implies that incase purchases are more than 20dollars, the two companies’ offers are equal if they do not purchase at all. Incase x inclines from 0 to 20 company’s A offer is better as they give10% discount and no discount is given by company B.
Company B: The cost prior to discount is more than 20 dollars. Systems of equations to be solved are y=0.9x, y=0.8x+4 and y=y meaning 0.9x=0.8x+4 which gives us 0.1x=4 hence x=40. Y=0.9×40=36 and y=y=36. The solutions to this system is therefore x=40, y=36 and y=36. It implies that incase purchases are more than 20dollars, the two companies’ offers are equal if the amount prior to discount is 40dollars.if 20 Read More
Cite this document
• APA
• MLA
• CHICAGO
(“Task 5 PROBABILITY, STATISTICS, & QUANTITATIVE PROBLEM Essay”, n.d.)
(Task 5 PROBABILITY, STATISTICS, & QUANTITATIVE PROBLEM Essay)
“Task 5 PROBABILITY, STATISTICS, & QUANTITATIVE PROBLEM Essay”, n.d. https://studentshare.org/mathematics/1588863-task-5-probability-statistics-quantitative-problem.
Click to create a comment or rate a document

## CHECK THESE SAMPLES OF Task 5 PROBABILITY, STATISTICS, & QUANTITATIVE PROBLEM

### Statistics/Probability

Be sure to show your work so that partial credit may be awarded. To receive full credit, work must be shown if applicable. Section 3 Basic Concepts of Probability and Counting
1. Lock combinations are made by using 4 digits. How many different lock combinations can be made if repetition of digits is allowed?
Each place in the 4 digit number can be occupied by any of the 10 digits. Hence by the multiplication theorem of probability, we get
No of different combinations = 10 × 10 × 10 × 10 = 10000 combinations

2. In 2001 the stock market took some big swings up and down. One thousand investors were asked how often they tracked their investments. The table below shows their responses. What is the probability that an...
2 Pages(500 words)Statistics Project

### Abortion Facts and Statistics

Whether legal or not, every year millions of individual women around the world— of all cultural, religious, and economic backgrounds— seek out abortion when they cannot carry a pregnancy to term.

At present almost two-thirds of the world’s women live in countries where abortion may be legally obtained for a broad range of social, economic or personal reasons. When abortion is made legal, available and safe, women’s reproductive health improves. When women can avoid births that are unwanted, mistimed, or too numerous, their children are more likely to survive and be healthy.

It has long been recognized that the number of abortions can be effectively reduced by educating people on...
11 Pages(2750 words)Report

### School Bullying: an Educational Problem

School bullying is a serious educational problem that is receiving increased attention. While anti-bullying programs are mandatory in Australian and American schools, they are not in Singapore (Forss, 2006). In Singapore, 95% of students in primary and secondary schools have experienced bullying (Forss, 2006).

A bully is someone who repeatedly attacks another individual who does not resist (Berger, 2006) and constantly harasses somebody else either physically or psychologically (Bosworth, Espelage, Simon, 1999). Bullying is manifested in many different ways such as physical, verbal and relational bullying (Berger, 2006). As a result of bullying, victims may experience anger, sadness, and depression which can lead to lo...
11 Pages(2750 words)Literature review

### The Problem of Deliberate Self Harm

One of the most serious public health concerns in our modern-day society is the problem of deliberate self-harm. An investigation carried out in a cross-section of the society of children in the age group of 10 – to 14 years (Office of statistics) sowed that cutting and piercing and poisoning were the primary causes of such injuries in children and gunshot and suffocation were key factors responsible for the suicide.
However, in the last decade, there has been an ever-escalating volume of research being carried out in this area due to the spurt of emergency cases that are recorded each year. There are many factors that contribute to this and some of the most common are poor psychological conditions, adverse family circu...
42 Pages(10500 words)Research Paper

### Project Risk Assessment: Qualitative Versus Quantitative Approach

The risks may vary in terms of nature or scope according to the situation. So since the risk is so common in project management, a very important aspect of managing a project is analyzing all the possible risks that are associated with that particular project. It makes no sense of going on with a project and not giving a thought to the risks that could affect the success. Once these risks are analyzed, the project manager will have all the possible risks in front of him. He will know the degree of risk and also the benefits that the organization will get if the risk is taken. Therefore only after a risk analysis, the project manager is in a position to conclude whether or not it is worth taking the risk and going on with a certain...
6 Pages(1500 words)Assignment

### The Problem of Surface Water Acidification

... identified internationally and has been proposed for inclusion in the World Health Organisation’s Pesticide Evaluation Scheme (WHOPES) programme of possible water pollutants. WHOPES lists a formidable list of approximately 200 toxic chemicals as potential or proven contaminants. Some of the preliminary fundamental lessons derived from surface water acidity control measures are for the need to form a committee that will work harmoniously to enact policy and legislation aimed at curbing the problem of aquatic water pollution and management. This can include the public health department, ecological, water resources, water distribution, husbandry, geological, manufacturing, and business-related authorities which will consequently elect...
11 Pages(2750 words)Coursework

### The Extent to Which Unemployment Is a Microeconomic As Opposed To a Macroeconomic Problem

...Explain the extent to which unemployment is a microeconomic as opposed to a macroeconomic problem, and discuss the relevance of this analysis for government policy to reduce the rate of unemployment. Name: Roll No: Class: Subject: Teacher: Date: 26th April 2009 University Explain the extent to which unemployment is a microeconomic as opposed to a macroeconomic problem, and discuss the relevance of this analysis for government policy to reduce the rate of unemployment. Introduction One important goal of microeconomics is to analyse market mechanisms, which establishes relative prices of goods and services and allocation of resources limited by nature among the alternative uses of these goods and services. Microeconomics steps in when...
6 Pages(1500 words)Assignment

### Malnutrition: A Long Standing Problem among Children

Poverty majorly affects young children and it makes infants very prone to being malnourished. In Africa the situation is probably the worst when compared with any other continent, poverty has completely overshadowed the development of the people there and several young children die because of malnourishment. People who cannot afford even one square meal a day are the ones who are predominantly affected by malnourishment.

Nutrition is pivotal for growth and progression of normal life and also a disease-free life. It is imperative for everybody and much more important in the case of children and infants because they are in their maximum growth stage. Malnutrition at this stage can have serious repercussions for the...
10 Pages(2500 words)Coursework

### The Problem of Obesity and Over-Eating in the Popular Press

“Obesity technically means an excess of body fat and is distinct from ‘overweight’, which means an excess of body weight” (Wing & Polley, 2001, p. 263). For most people, being overweight is tantamount to being obese. Furthermore, it is also widely believed that obesity does not spare anyone – children, young adults, mid-adults and older adults – and that, being obese is undergoing many risks not only in one’s health but even in one’s social life, because obese are believed to be denied of quality life.

What causes obesity varies. But generally, obesity is attributed most commonly to what we eat – those high in calories and fats, to our way of life – a life...
7 Pages(1750 words)Case Study

### Decision Making and Problem Solving Skills

The Emerald article Developing Competent Managers, written by Tom Kilcourse argued that competences of managers are specific to organizational culture, and the individual needs to develop in parallel with the organization (Kilcourse, 1994). Decision Problem Solving, Interpersonal Skills, Performance Management, Personal Organisation, Stress Management, etc are generally accepted as the necessary skills for a competent manager. This paper is focussing only on the decision making and problem-solving skills of a manager in order to analyze the competencies of a manager.

Management is a process that requires rapid decision-making abilities. Logical and effective decisions making abilities are essential for an effective mana...
5 Pages(1250 words)Assignment

### Probability and Inferences in Statistics

... of a large sample. In an old book, Walpole used n30 as his definition of a “large sample”. III. t-statistics The t-statistics is a widely used statistics. The t-statistics is a type of a normal curve. It is symmetric in relation to the mean just like a normal curve. The t-statistics actually refer to many curves. Each curve vary with regard to distribution depending on v or the degrees of freedom where v=n-1. Thus, each v provides a specific shape to the t-statistics. Figure 5. t-statistics Source: McClave et al. (723) Naturally, an area representing a probability of 5% for example would be located at various points, depending on the actual shape of the t-curve. Figure 5 identifies the numeral or statistics associated with various...
6 Pages(1500 words)Term Paper

### Statistics and Quantitative Methods

The method is also not sensitive to variation in the value of money over time. However, it is easy to use and can be used to make a quick assessment of investment viability using existing data (Groppelli & Nikbakht, 2006: pp. 157-158).

Net present value (NPV) takes into account the value of money over time and uses the present value of future cash flows (Lasher, 2008: p. 426). This present value is compared with the initial investment and decision taken on whether the investment is viable over the long term or not. NPV is, therefore, a difference between the present value and the initial investment. If NPV is positive, the project is viable, and if it is negative, the project may be rejected. NPV uses the discount r...
17 Pages(4250 words)Assignment

### Statistics and Probability in Business

Handy Hydraulic Industries is doing well after many changes in the corporate and operating structure. However, the managers know that one needs to excel to sustain in the current environment of cut-throat competition. For excellence, a business needs to evolve and execute a multipronged strategy targeting different aspects of performance and customer relationship. The aim is to become leaner on operating size to cut cost without compromising the expectations of customers. For this, the managers of business need to make informed decisions and the information has to be derived from nowhere but from the data relevant to the business. It is here that statistics and probability come to help them. Statistics is the branch of knowledge t...
11 Pages(2750 words)Dissertation