A Vendor Offers Various T-Shirts for Sale on an Internet

question 24

Essay

A vendor offers various t-shirts for sale on an Internet commerce site.Some of his t-shirts sell quite well, others have yet to find an interested customer.The summary $$\begin{array} { | l | c | } \hline \bar { x } & 23 \\\hline \text { Median } & 15 \\\hline \text { Min } & 0 \\\hline \text { Q1 } & 3 \\\hline \text { Q3 } & 21 \\\hline \text { Max } & 82 \\\hline \text { sd } & 7.84 \\\hline\end{array}$$
statistics are listed on right, based on the number of sales
per month for each of 80 different t-shirt designs.
A.What is the shape of this distribution? Explain how you know.
B.If the vendor spends $2 per t-shirt in shipping costs, what is his average monthly costs
per t-shirt sold? What is the standard deviation of this cost? Show work.
c.As time passes, the vendor has simplified his profit calculation.He estimates that he has
monthly flat costs of $35, with a gain of $3.50 per t-shirt sold.What is the median of his
profit? The IQR?
d.What are the mean and standard deviation of his profit?
e.What is more appropriate in this case: using mean and standard deviation, or using
median and IQR?

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Definitions:

Holistic Perspective

An approach that considers a system or entity as a whole, integrating all parts and aspects instead of focusing on individual components.

Global Supply Chains

Supply chain operations that involve production and delivery activities spread over different countries, offering advantages like cost reduction and access to new markets but also presenting complex challenges.

Transit Times

The duration it takes for goods to be transported from one point to another, often considered in the selection of shipping methods.