EBK BUSINESS STATISTICS
7th Edition
ISBN: 8220102743984
Author: STEPHAN
Publisher: PEARSON
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The Bennett Distribution Company, a subsidiary of a major home appliance manufacturer, wants to forecast sales
for next year. The Atlantic Coast branch, with current sales of $193.8 million, is expected to achieve
sales growth of 7.25%; the Midwest branch, with current sales of $79.3 million, is expected to have a
increase of 8.20%, and that the Pacific Coast branch, with current sales of $57.5 million, increase its sales 7.15%.
What is the predicted average growth rate in sales for the next year?
Select one:
Or a. The predicted average rate in sales for the next year is 7.46%
Or b. The predicted average rate in sales for the next year cannot be calculated due to lack of information
O c. The predicted average rate in sales for the next year is 22.6%
Or d. The predicted average rate in sales for the next year is 7.53%
6
According to Zillow.com, the median sale price for homes in January for South Carolina, California, and
Virginia over the last three years is given in the table below (measured in $100,000).
able
South Carolina California Virginia
2018
183
534
98
2019
193
555
94
2020
216
569
85
In South Carolina, realtors take 5.4% of the sale price on average as part of their commission. The
average realtor commission rates in California and Virginia are 4.9% and 5.3%, respectively.
Use matrix multiplication to find the total earned by realtors from their commissions
Investment advisors agree that near-retirees, defined as people aged 55 to 65, should have balanced portfolios. Most advisors suggest that the near-retirees have no more than 50% of their investments in stocks. However, during the huge decline in the stock market in 2008, 15% of near-retirees had 90% or more of their investments in stocks (P. Regnier, “What I Learned from the Crash,” Money, May 2009, p. 114). Suppose you have a random sample of 12 people who would have been labeled as near-retirees in 2008. What is the probability that during 2008:
two or more had 90% or more of their investment in stocks?
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