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On Days 1 through 4 of a recent week, Product X was out of stock at
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14 May 2020, 01:18
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DIFFICULTY AND TIMER STATISTICS
On Days 1 through 4 of a recent week, Product X was out of stock at Retailer R. Day 1 shoppers are those shoppers who came to Retailer R on Day 1 of that week seeking Product X. For each of the first 3 days of that week, the graph shows the subsequent behavior of all the Day 1 shoppers who came to Retailer R seeking Product X on that day. Shoppers at Retailer R who purchased a different item in lieu of Product X paid an average of 30% more for the item.
From each drop-down menu, select the option that creates the most accurate statement based on the information provided
% of Day 1 shoppers returned to the store on Day 3.
Shoppers at Retailer R who purchased substitute items from other manufacturers on Day 1 paid a total amount that was approximately % of the total all Day 1 shoppers would have paid had each of them been able to purchase Product X on Day 1.
Re: On Days 1 through 4 of a recent week, Product X was out of stock at
[#permalink]
14 May 2020, 05:39
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1. ____________% of Day 1 shoppers returned to the store on Day 3.
Let's assume the no. of shoppers on Day 1 be 100. Currently we are concerned with only the %age of shoppers who returned on Day 2 and Day 3.
Now the no. of shoppers who returned the Day 2 = 25% of 100 = 25. Of this 19% returned on Day 3 = 4.75 ~ 5. => 5 people returned on DAY 3 = 5% of the total shoppers on Day 1. Thus, % of Day 1 shoppers who returned to the store on Day 3 Between 1 & 10.
Answer is B.
2. Shoppers at Retailer R who purchased substitute items from other manufacturers on Day 1 paid a total amount that was approximately______________% of the total all Day 1 shoppers would have paid had each of them been able to purchase Product X on Day 1.
Little tricky since the line to read again is: the total all Day 1 shoppers Let's assume the no. of shoppers on Day 1 be 100. Now, let the price of each Product X be 100.
60% of total day 1 shoppers purchased a different item at 130. Thus total = 130*60. Now had all been able to purchase the Product X, the total would have been: 100*100.
what we are asked: 130*60 = what % of (100*100). = 78%
Re: On Days 1 through 4 of a recent week, Product X was out of stock at
[#permalink]
14 May 2020, 12:35
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1)B,Let total number of shoppers on day 1= x So the number returned on Day 2= 0.25x,Now of these 19% returned on Day 3= .19*.25x=.0475x ,which means roughly 5% of total returned on day 3 so it's between 1 and 10.
2)B,so here let total shoppers for Day 1= x
Now those who purchased items from other store= .6x Amount of each article y so aince these people purchased from other store they got individual price as = 1.3y So total price = .6x*1.3y
Now had all people purchased from x= x*y So the ratio is .6x*1.3y/xy=.78 =78%
Re: On Days 1 through 4 of a recent week, Product X was out of stock at
[#permalink]
27 Aug 2021, 10:42
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Expert Reply
Official Explanation
According to the graph and the accompanying text, 25% of the Day 1 shoppers returned on Day 2, and 19% of those shoppers subsequently returned on Day 3. Thus, on Day 3, 100(.25)(.19) = 4.75% of Day 1 shoppers returned to the store.
The correct answer is Between 1 and 10.
Day 1 shoppers who purchased an item in place of Product X paid, on average, 130% of the amount that they would have paid for Product X. According to the graph, 60% of Day 1 shoppers chose to buy an alternative product on Day 1. The total spent by these shoppers, as a fraction of the total all Day 1 shoppers would have spent had each instead bought Product X, is \(\frac{(60)(130)}{(100)(100)} = \frac{7,800}{10,000}\), or 78%.
On Days 1 through 4 of a recent week, Product X was out of stock at
[#permalink]
05 Oct 2022, 03:29
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parkhydel wrote:
Attachment:
3.jpg
On Days 1 through 4 of a recent week, Product X was out of stock at Retailer R. Day 1 shoppers are those shoppers who came to Retailer R on Day 1 of that week seeking Product X. For each of the first 3 days of that week, the graph shows the subsequent behavior of all the Day 1 shoppers who came to Retailer R seeking Product X on that day. Shoppers at Retailer R who purchased a different item in lieu of Product X paid an average of 30% more for the item.
From each drop-down menu, select the option that creates the most accurate statement based on the information provided.
1. ____________% of Day 1 shoppers returned to the store on Day 3.
A. Fewer than 1 B. Between 1 and 10 C. More than 10
2. Shoppers at Retailer R who purchased substitute items from other manufacturers on Day 1 paid a total amount that was approximately______________% of the total all Day 1 shoppers would have paid had each of them been able to purchase Product X on Day 1.
For the question 1, 1. ____________% of Day 1 shoppers returned to the store on Day 3.
A. Fewer than 1 B. Between 1 and 10 C. More than 10
I understand that on Day 1 there are 25% of the shoppers who return the Day 2 = 25% of 100 = 25. But we don't how many people in 25% decide to return on Day 3. All of them may not return to Day 3 (0%) or Most of them may return to Day3 (thus, it is possible that No. of Day1 shoppers may be still 25 or greater than 10)
Re: On Days 1 through 4 of a recent week, Product X was out of stock at
[#permalink]
02 Jul 2024, 06:39
For blank 1, the question is asking what percentage of the people on Day1, who did not make a purchase, returned the next day, retuned on day 2 but still did not make a purchase, retuned the next day. Let s be the total number of shoppers on Day 1. 25% did not make a purchase, retuned the next day- 0.25x On day 2, 19% still did not make a purchase and returned the next day ie out of 0.25x 19% retuned on day 3. 0.25x * 0.19 ~0.05x. Since the answer is a percentage, it will be ~5% so between 1 and 10.
For blank 2, the question is asking the percentage of the amount spent by 60% of the people in Day 1 in comparison to the amount that all the people on day1 would have spent had product X been available. The cost of different item is 1.3 times product X. Let the cost of product X be c and the total number of shoppers on day 1 be s. The percentage = 0.6*1.3*cs/cs = 0.78*100= 78%
gmatclubot
Re: On Days 1 through 4 of a recent week, Product X was out of stock at [#permalink]