Textbook prices have a seasonal structure on Ebay. At the end of a term, the supply of used books outstrips demand, and the price is lower. Near the start of a term, many students are looking for books, and the price is higher.
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Textbook prices have a seasonal structure on Ebay. At the end of a term, the supply of used books outstrips demand, and the price is lower. Near the start of a term, many students are looking for books, and the price is higher. Suppose we can classify sales for a particular chemistry textbook into these two time periods and an "other" time period in the proportions shown below. We have also listed the average price the textbook sells for in each of these three time periods
| Start-of-term | End-of-term | Other | |
|---|---|---|---|
| Sales proportion | 0.45 | 0.31 | 0.24 |
| Average price | $82.52 | $49.12 | $65.23 |
For example, about 45% of Ebay auctions for this chemistry textbook occur at the start of the term and the books sell for an average of $82.52 during this time. Using the information above, compute the average price of the textbook over all seasons. (Do not put a dollar sign in your answer.)
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
