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

Question

Quizplus · Accepted Answer

The net profit is calculated by considering the revenue from sold headphones and the cost of production. Revenue from sold headphones at full price is $51 \times 32 = 1632$. The surplus quantity is $55 - 51 = 4$, sold at a discount price of $19.2, giving $4 \times 19.2 = 76.8$. Total revenue is $1632 + 76.8 = 1708.8$. The cost of production is $55 \times 22 = 1210$. Net profit is $1708.8 - 1210 = 498.8$.

Identify Different Business Uses for Statistics and the Major Statistical