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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, 07:11
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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?
A manufacturer makes and sells 2 products, P and Q. The revenue from t
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Updated on: 05 Dec 2018, 16:06
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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, 22:48
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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....
PLEASE FOLLOW THE RULES FOR POSTING IN QA AND VA FORUM AND USE SEARCH FUNCTION BEFORE POSTING NEW QUESTIONS
Re: A manufacturer makes and sells 2 products, P and Q. The revenue from t
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03 Aug 2018, 14:07
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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.
Re: A manufacturer makes and sells 2 products, P and Q. The revenue from t
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18 Apr 2019, 14:30
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1
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. $18.00
If the weights were the same we would get an average of (17 + 20) / 2 = 18.5.
But we have more of the product that costs 17$, so the average would be less than 18.5, only 18 works - E
Re: A manufacturer makes and sells 2 products, P and Q. The revenue from t
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26 Aug 2019, 06:44
And I got stuck with the TRAP answer B. 27. After reading properly the second time I got it has to be divided by 3. Why is this happening with me?
_________________
On the way to get into the B-school and I will not leave it until I win. WHATEVER IT TAKES.
Re: A manufacturer makes and sells 2 products, P and Q. The revenue from t
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23 Oct 2019, 05:09
GMATPrepNow wrote:
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
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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23 Oct 2019, 05:17
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Shrey9 wrote:
GMATPrepNow wrote:
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
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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28 Oct 2019, 00:41
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. $18.00
Solving through logic: A/B are out as average cannot be more than 20$ Since no of Q > no of P, avg will be more near 17. If No of Q = No of P avg would be 18.5 (option D) which we eliminate since it's not the case.
A manufacturer makes and sells 2 products, P and Q. The revenue from t
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11 Dec 2019, 08:45
Let p = units of product P ($20/unit) sold and q = units of product Q ($17/unit) sold Also, q = 2p Therefore, Average = \(\frac{20p + 17p}{p + q}\) ==> \(\frac{20p + 17(2p)}{p + 2p}\) ==> \(\frac{20p + 34p}{3p}\) ==> \(\frac{54p}{3p}\) ==> $18 (answer is E)
gmatclubot
A manufacturer makes and sells 2 products, P and Q. The revenue from t
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11 Dec 2019, 08:45
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