Identify Different Business Uses for Statistics and the Major Statistical

question 32

Multiple Choice

Identify different business uses for statistics and the major statistical tools businesses use
Use the table below to answer the following question(s) .
Sujito Electronix makes headphones for $22 and sells them for $32. Sujito has sold at least 50 headphones on average per week in the past, though the actual demand is unknown. Sujito has also often run short of supply in the past. After three months of release, the headphones are sold at 40 percent discount. The spreadsheet below shows Sujito's sales and demand for the headphones. We take demand at 51, and quantity produced at 55. $\begin{array}{|l|l|}\hline\begin{array}{l}\text { Newsvendor model for } \\\text { Sujito's headphones }\end{array} & \\\hline & \\\hline \text { Data } & \\\hline & \\\hline \text { Selling Price } & \$ 32 \\\hline \text { Cost } & \$ 22 \\\hline \text { Discount Price } & \$ 19.2 \\\hline & \\\hline \text { Model } & \\\hline & \\\hline \text { Demand } & 51 \\\hline \text { Produced Quantity } & 55 \\\hline & \\\hline \text { Quantity Sold } & \\\hline \text { Surphus Quantity } & \\\hline\end{array}$
-Calculate the net profit for the headphones.

• A) $586.8
• B) $498.8
• C) $1653.8
• D) $466.8

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Definitions:

Production Possibilities Frontier

represents the maximum combination of goods and services that can be produced in an economy, given its resources and technology level.

Bowed Outward

Describes the shape of a production possibility frontier that reflects increasing opportunity costs as more of one good is produced.

Coats

Garments worn on the upper body, typically extending below the hips, designed for warmth or fashion.

Evaluate Results

The process of analyzing outcomes to assess the effectiveness and efficiency of actions or strategies implemented.