MGMT2262

Worksheet #2

 

Suppose 15% of Canadians shop at The Bay, 40% shop at Walmart and 7% shop at both stores.

1)      What percentage of Canadians shop at either store? (48%)

2)      What percentage of Canadians who shop at The Bay also shop at Walmart? (46.67%)

3)      What percentage of Canadians shop at Walmart but not at the Bay? (33%)

4)      What percentage of Canadians who shop at Walmart don’t shop at the Bay? (82.5%)

5)      What percentage of Canadians who don’t shop at The Bay don’t shop at Walmart either? (61.18%)

6)      What percentage of Canadians don’t shop at either store? (52%)

7)      Based on the provided information, who is more likely to shop at the Bay: someone who shops at Walmart or someone who doesn’t? (someone who does)

8)      Does shopping at one store depend on shopping at the other store? (yes it does)

9)      Are the events of shopping at The Bay and Walmart mutually exclusive? (no)

 

The net profit of 1000 small- and medium-sized companies was cross-tabulated against annual gross revenue. These were the results:

Profit|Revenue

< $500K

$500K - $1000K

$1000K +

Total

< $50K

141

124

3

268

$50K - $100K

54

222

197

473

$100K - $500K

2

81

98

181

$500K +

0

11

67

78

Total

197

438

365

1000

10)  What percentage of the companies have annual revenues of at least $500,000? (80.3%)

11)  What percentage of the companies with revenues of at least $500,000 have a net profit of at least $100,000? (32%)

12)  What percentage of the companies have net profit of less than $100,000? (74.1%)

13)  What percentage of the companies with net profit of less than $100,000 have revenues under $500,000? (26.32%)

14)  Which revenue and profit categories are mutually exclusive? Why must they be mutually exclusive? (revenue under $500,000 and profit of $500,000 or more)

15)  An investment firm will mail information to companies whose revenue is at least $500,000 or have net profit of at least $100,000. Of these 1000 companies, what percentage would qualify for this mail campaign? (80.5%)

16)  What is the trend in the percentage of companies with net profit of at least $100,000 as we proceed from the lower to higher income categories? (percentage increases)

17)  Does having a profit of $100,000 or more depend on having revenue of $500,000 or more? (yes)

18)  You are given the following table:

Brand

% market share

% used by

under 25 age group

Brand A

25

70

Brand B

15

55

Brand C

60

40

What is the overall market share of the under 25 age group? Which brand has the largest market share of this group and what percentage of this group does it have? (overall = 49.75%; brand C at 48.24%)

19)  A committee has 12 members. If it needs to fill the president, VP, secretary and treasurer positions from among the 12, how many ways can the positions be filled? (11,880)

20)  Suppose the committee had to choose 3 people to go on a business trip. How many ways can they choose the 3 people? (220)

21)  Suppose a 4-digit alphanumeric password can be filled with either numbers or letters. How many passwords can be created if none of the letters or numbers can be repeated? (1,413,720)

22)  Same situation as number 21, but the first digit must be a letter. (1,021,020)

 

From the textbook:

3.11 (page 99)

3.24 (page 106)

3.38 (page 111)