Madz178
Badges: 12
Rep:
?
#1
Report Thread starter 3 weeks ago
#1
need some hints or help if possible with this please
Attached files
Last edited by Madz178; 3 weeks ago
0
reply
MindMax2000
Badges: 20
Rep:
?
#2
Report 3 weeks ago
#2
(Original post by Madz178)
need some hints or help if possible with this please
Sounds like a drop shipping business.

Profit = selling price - cost - delivery - expected faults in current batch of microwaves (along with redelivery)
You will need the profit percentage (usually in terms of selling price)

You will need to check the formula for expected value.
0
reply
Madz178
Badges: 12
Rep:
?
#3
Report Thread starter 3 weeks ago
#3
(Original post by MindMax2000)
Sounds like a drop shipping business.

Profit = selling price - cost - delivery - expected faults in current batch of microwaves (along with redelivery)
You will need the profit percentage (usually in terms of selling price)

You will need to check the formula for expected value.
i don't really understand could you explain
0
reply
MindMax2000
Badges: 20
Rep:
?
#4
Report 3 weeks ago
#4
(Original post by Madz178)
i don't really understand could you explain
The textbook definition of profit is what is left over after all costs have been deducted.
Other than delivery and cost of buying the microwave, you have a certain number of faulty microwaves you expect to have within your batch of 133. The cost entailed with those are the cost of repariing the microwave and the delivery cost on top for sending the repaired microwave to the customer.

Use the number of faulty microwaves in the previous month as a benchmark for figuring out the expected number of microwaves to be faulty.

Of course, if there were that many faulty microwaves in a given batch in real life, I'd question the quality of the merchandise and the manufacturer.
Last edited by MindMax2000; 3 weeks ago
1
reply
Madz178
Badges: 12
Rep:
?
#5
Report Thread starter 3 weeks ago
#5
(Original post by MindMax2000)
The textbook definition of profit is what is left over after all costs have been deducted.
Other than delivery and cost of buying the microwave, you have a certain number of faulty microwaves you expect to have within your batch of 133. The cost entailed with those are the cost of repariing the microwave and the delivery cost on top for sending the repaired microwave to the customer.

Use the number of faulty microwaves in the previous month as a benchmark for figuring out the expected number of microwaves to be faulty.

Of course, if there were that many faulty microwaves in a given batch in real life, I'd question the quality of the merchandise and the manufacturer.
hi so for the cost i did 133x 32= 4256
she pays for the delveery so i assume that goes into her costs so 133 x 7= 931
add them together = 5187
her sales are 133 x 60= 7980- not assuming any faulty microwaves
if it was 6 out of 80 last month i don't know how to figure out how many there will be with 133 microwaves that's the bit i am stuck on
0
reply
MindMax2000
Badges: 20
Rep:
?
#6
Report 3 weeks ago
#6
(Original post by Madz178)
hi so for the cost i did 133x 32= 4256
she pays for the delveery so i assume that goes into her costs so 133 x 7= 931
add them together = 5187
her sales are 133 x 60= 7980- not assuming any faulty microwaves
if it was 6 out of 80 last month i don't know how to figure out how many there will be with 133 microwaves that's the bit i am stuck on
Read the following, they might help:
https://www.bbc.co.uk/bitesize/guide...4qt/revision/4
https://www.examsolutions.net/tutori...ted-values-ex/
Last edited by MindMax2000; 3 weeks ago
0
reply
MindMax2000
Badges: 20
Rep:
?
#7
Report 3 weeks ago
#7
(Original post by Madz178)
hi so for the cost i did 133x 32= 4256
she pays for the delveery so i assume that goes into her costs so 133 x 7= 931
add them together = 5187
her sales are 133 x 60= 7980- not assuming any faulty microwaves
if it was 6 out of 80 last month i don't know how to figure out how many there will be with 133 microwaves that's the bit i am stuck on
Read/watch the following; they might help:
https://www.bbc.co.uk/bitesize/guide...4qt/revision/4
https://www.examsolutions.net/tutori...ted-values-ex/
0
reply
Madz178
Badges: 12
Rep:
?
#8
Report Thread starter 3 weeks ago
#8
thanks for the links i don;t really understand it's confused me now
0
reply
MindMax2000
Badges: 20
Rep:
?
#9
Report 3 weeks ago
#9
(Original post by Madz178)
thanks for the links i don;t really understand it's confused me now
Have you covered expected value or probabilities in lessons?
It shouldn't be that difficult.
0
reply
Madz178
Badges: 12
Rep:
?
#10
Report Thread starter 3 weeks ago
#10
(Original post by MindMax2000)
Have you covered expected value or probabilities in lessons?
It shouldn't be that difficult.
no i haven't but what i did what i put 6/80 as a fraction then found out if one was faulty what chance would it be out of -how many microwaves- so i did 80 divided by 6=13.3 then i did 133/13.3= 10 so 10 out of 133 are faulty idon't know if this is right
0
reply
MindMax2000
Badges: 20
Rep:
?
#11
Report 3 weeks ago
#11
(Original post by Madz178)
no i haven't but what i did what i put 6/80 as a fraction then found out if one was faulty what chance would it be out of -how many microwaves- so i did 80 divided by 6=13.3 then i did 133/13.3= 10 so 10 out of 133 are faulty idon't know if this is right
It's the long way going about it, and it's a bit inaccurate, but it's right.
0
reply
Madz178
Badges: 12
Rep:
?
#12
Report Thread starter 3 weeks ago
#12
(Original post by MindMax2000)
It's the long way going about it, and it's a bit inaccurate, but it's right.
hi but what do you mean what bit is right - so the 10 is right??
0
reply
MindMax2000
Badges: 20
Rep:
?
#13
Report 3 weeks ago
#13
10 is roughly the right answer for the expected number of faulty microwaves, but that's because you've rounded up 13.33333.... to 13.3
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

How do you prefer to get careers advice?

I like to speak to my friends and family (8)
9.2%
I like to do my own research online using careers specific websites (57)
65.52%
I like speaking to the careers advisors at school, college or uni (12)
13.79%
I prefer to listen watch videos or listen to podcasts of people in my chosen career (9)
10.34%
Something else (let us know in the thread) (1)
1.15%

Watched Threads

View All