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A manufacturer makes and sells 2 products, P and Q. The revenue from t
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17 Jun 2017, 08:11
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35% (medium)
Question Stats:
69% (01:09) correct 31% (01:48) wrong based on 633 sessions
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A manufacturer makes and sells 2 products, P and Q. The revenue from the sale of each unit of P is $20.00 and the revenue from the sale of each unit of Q is $17.00. Last year the manufacturer sold twice as many units of Q as P. What was the manufacturer’s average (arithmetic mean) revenue per unit sold of these 2 products last year?
Re: A manufacturer makes and sells 2 products, P and Q. The revenue from t
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17 Jun 2017, 08:31
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AbdurRakib wrote:
A manufacturer makes and sells 2 products, P and Q. The revenue from the sale of each unit of P is $20.00 and the revenue from the sale of each unit of Q is $17.00. Last year the manufacturer sold twice as many units of Q as P. What was the manufacturer’s average (arithmetic mean) revenue per unit sold of these 2 products last year?
A. $28.50 B. $27.00 C. $19.00 D. $18.50 E. $18.00
Let's plug in some NICE VALUES that satisfy the given information...
Last year the manufacturer sold twice as many units of Q as P. So, let's say the manufacturer sold 1 P and 2 Q's
What was the manufacturer’s average (arithmetic mean) revenue per unit sold of these 2 products last year? TOTAL revenue = 1($20.00) + 2($17.00) = $20.00 + $34.00 = $54
There were 3 units sold. So, average price = $54/3 = $18
Re: A manufacturer makes and sells 2 products, P and Q. The revenue from t
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17 Jun 2017, 23:48
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AbdurRakib wrote:
A manufacturer makes and sells 2 products, P and Q. The revenue from the sale of each unit of P is $20.00 and the revenue from the sale of each unit of Q is $17.00. Last year the manufacturer sold twice as many units of Q as P. What was the manufacturer’s average (arithmetic mean) revenue per unit sold of these 2 products last year?
A. $28.50 B. $27.00 C. $19.00 D. $18.50 E. $18.00
Revenue last year from the sale of P is 20*1 = 20 Revenue last year from the sale of Q is 17*2 = 34
Total Revenue from the sale of P and Q last year is 54
Average Revenue from the sale of P and Q last year is \(\frac{54}{2+1} = 18\)
Hence, answer will be (E) 18 _________________
Thanks and Regards
Abhishek....
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Re: A manufacturer makes and sells 2 products, P and Q. The revenue from t
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03 Aug 2018, 15:07
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AbdurRakib wrote:
A manufacturer makes and sells 2 products, P and Q. The revenue from the sale of each unit of P is $20.00 and the revenue from the sale of each unit of Q is $17.00. Last year the manufacturer sold twice as many units of Q as P. What was the manufacturer’s average (arithmetic mean) revenue per unit sold of these 2 products last year?
A. $28.50 B. $27.00 C. $19.00 D. $18.50 E. $18.00
We can compute a weighted average to solve. Let’s assume that 2 units of Q and 1 unit of P were produced last year. So the total revenue is 2 x 17 + 1 x 20 = $54, and thus the average revenue per unit is thus 54/3 = $18.
Answer: E
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