Target sells 24 bottles of water for $3, and 36 bottles of water for $4. Which is the better buy and by how much?
2 answers:
Answer:
The better buy is option C because you will be paying $3 instead of $18 for 24 bottles. Which means you will save $1.2 more than option B and $15 in total.
Step-by-step explanation:
Option A:
If the bottle is 1.5 cent per bottle and you buy 24 bottles you will only spend:
therefore only 36 cent.
Option B:
If the bottle is 70 cent per bottle and you buy 24 bottles you will only spend:
therefore you will pay $16.8.
Option C:
If the bottle is 75 cent per bottle and you buy 24 bottles you will only spend:
therefore you will pay $18.
Option D:
If the bottle is 1.4 cent per bottle and you buy 36 bottles you will only spend:
therefore you will pay 50 cent.
∴ Option A you will overspend $3-0.36cents = $2.64
∴ Option B you will save $16.8-$3 = $13.8
∴ Option C you will save $18-$3 = $15
∴ Option B you will overspend $3-$0.5 = $2.5
Therefore option C is the best option because you will be paying $3 instead of $18 for 24 bottles. You will save $1.2 more than option B.
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Answer:
a) The cut off value of the highest 50% is 6.16%.
b) The cut off value of the highest 16% is 8.8%.
c) The cut off value of the lowest 2.5% is 0.7%.
d) The cut off values of the middle 68% is 3.4% for the lower bound and 8.8% for the higher bound.
Step-by-step explanation:
The 68–95–99.7 rule is an empirical rule to remember the percentage of values that lie within a band around the mean in a normal distribution with a width of two, four and six standard deviations respectively.
a) Cut off value of the highest 50%
It corresponds to the half that has the higher returns, which are the ones that are above the mean (0 standard deviation). The cut off value in this case is the mean x=6.16%.
b) Cut off value of the highest 16%
In this case, we use the 68 rule-value, which means that 68% of the values lies within a band around the mean with a width of two standard deviations.
The percentage that lies out of this band is 100%-68%=32%, of which 16% lies above the band (the highest 16%) and 16% lies below the band.
We can estimate, according to this rule, that the highest 16% are above the cutoff value X of μ+1σ:
The cut off value of the highest 16% is 8.8%.
c) Cut off of the lowest 2.5%
In this case, we use the 95 rule.
The lowest 2.5% lies below two standards deviation less of the mean
The cut off value of the lowest 2.5% is 0.7%.
d) Cut off of the middle 68%
In this case we calculate the band within one standard deviation.
The cut off values of the middle 68% is 3.4% for the lower bound and 8.8% for the higher bound.