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CAHSEE Math 5.5 Statistics, Data, and Probability II 192 Views


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Description:

Statistics, Data, and Probability II Drill 5, Problem 5. If Bert purchased $15,000 in merchandise at wholesale prices, how much would he need to make in total sales to earn a 12% profit?

Language:
English Language

Transcript

00:03

Here’s a question to put a little shmoop in your step…

00:06

For the past few years, the owners of a local baseball team, the Fighting Pansies, have

00:10

been trying to increase slumping attendance by lowering ticket prices.

00:14

Twitter feedback indicates that the biggest barrier to ticket sales is the high cost of the ticket.

00:20

No one wants to pay through the roof to watch a bunch of Pansies play baseball.

00:24

If a scatter plot were used here, horizontal values on it could represent the ever-higher

00:29

markdowns in ticket prices each year with respect to the original prices.

00:35

On the other hand, vertical values could represent the percentage increase in average attendance

00:40

per game starting from the beginning of the ticket price reductions.

00:44

Based on the above description, which of the following would be the most accurate statement

00:49

about the scatter plot representing this situation?

00:52

And here are the potential answers...

00:57

OK, so this long, hairy question is asking us to interpret a scatter plot… without providing us a scatter plot.

01:04

In other words… if WE were in charge of converting the given information into a scatter

01:08

plot… how on Earth would we do it?

01:10

Well, the problem tells us we should show

01:12

the discounted ticket prices along the horizontal, or x-axis…

01:17

…and the vertical, or y-axis, should show the percentage of increase in attendance.

01:22

If we were to put together such a plot, like this…

01:24

...with attendance going up as discounts go up…

01:27

…we’d have a POSITIVE correlation, since our plotted points move in an upward direction

01:31

from left to right.

01:33

Be careful here…

01:34

…if we were to compare attendance with ticket PRICES, we’d have a negative correlation…

01:38

…but because we’re asked to put the DISCOUNTS along the x-axis,

01:42

we actually do wind up with a positive correlation.

01:47

So our answer is A.

01:49

As in, “All-star.”

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