Business Statistics

[lisa1984wilson]

A recent nation-wide political poll estimated that the leading Democratic candidate was favored by 54 percent of the Democratic voters. The survey error was estimated to be ±3 percent. Explain the implications of this finding.

 

[Denis]

How is this a "Business Statistics"?

 

[stapel]

A recent nation-wide political poll estimated that the leading Democratic candidate was favored by 54 percent of the Democratic voters. The survey error was estimated to be ±3 percent. Explain the implications of this finding.

What are your thoughts? What, specifically, is your question?

Please be complete. Thank you! :wink:

 

[oesi]

Re: plz help

A recent nation-wide political poll estimated that the leading Democratic candidate was favored by 54 percent of the Democratic voters. The survey error was estimated to be ±3 percent. Explain the implications of this finding.

What are your thoughts? What, specifically, is your question?

Please be complete. Thank you! :wink:

plz i have a problem with solving this question"Olivia is 15 years older than matt.four times olivia's age decreased by 10is 6 times matt's age.find their ages".

 

[kdogg8855]

My company last year sold 555,224 widgets. This year we sold 1.223.393 widgets. What is the percentage increase in widget sales from last year to this year. I've seen it calculated as a 120% increase and I've also seen it calculated as a 220% increase. Which one is correct. Thanks in advance for any help.

 

[mmm4444bot]

Olivia is 15 years older than matt.four times olivia's age decreased by 10is 6 times matt's age.find their ages"

I missed your question from five days ago because you posted it at the end of somebody else's discussion.

Next time, please use the [NEWTOPIC] button on the boards' index pages to start your own discussion.

Pick symbols for Olivia's age and Matt's age, so you can write the given relationships as equations.

Let V = Olivia's age

Let M = Matt's age.

We are told that V is 15 more than M. Write this down.

V = M + 15

The amount described by the phrase "four times Olivia's age" is expressed algebraically as: 4V.

The phrase "decreased by 10" means that 10 is subtracted.

Therefore, "four times Olivia's age decreased by 10" is written as: 4V - 10

We are told that this amount is the same as six times Matt's age (for which we write: 6M).

So, now we have "a system of two equations".

4V - 10 = 6M

V = M + 15

We can solve this system for V and M using the Substitution Method.

Since the expression M + 15 represents the same number as V, we can substitute it for V in the first equation.

4(M + 15) - 10 = 6M

Does this make sense? Can you finish?

 

[mmm4444bot]

I've seen it calculated as a 120% increase and I've also seen it calculated as a 220% increase. Which one is correct.

You appended your request for help at the end of somebody else's discussion. In the future, please start your own discussion by clicking the [NEWTOPIC] button, which can be found on any of the boards' index pages.

120% is correct, if you're referring to the increase itself. In other words, the increase of 668,169 widgets is about 120% of the beginning number of widgets.

220% is correct, if you're referring to the ending number of widgets. In other words, the new number of 1,223,393 widgets is about 220% of the beginning number of widgets.

The phrase "percentage increase" is supposed to refer to the increase itself, so I'm thinking that 120% (which is rounded to a whole percent) is probably the answer they want. But, some people use this phrase to mean either scenario, with their actual intent usually spelled-out by context.

Formula for percentage increase:

(New/Old - 1)(100)%

(1223393/555244 - 1)(100)%

(2.2034 - 1)(100)%

(1.2034)(100)%

120.34%