Question

Discuss the statement ‘Business Mathematics provides accuracy to statements of facts and figures whereas statistical calculations are supportive estimates based on probability.’​

Answer 1

Answer:

were given a, uh were given a scenario of selling Ah personal computer retail company that sells five different models of computers represented in model in Matrix M as the number of columns. Each column represents a different model from models a through E, and each row represents stores. So we have three stores of this birth, uh, person, computer, retail industry or computer company and Matrix, and describes the cost. And the first column represents hope. Sale price. And the second column represents retail price, which obviously includes higher costs, higher numbers and part A asks for what the retail value of the inventory a store to is. So that store to we have, uh, he's a sore, too, this rope. So we're gonna multiply the row with, and we're trying to find detail. So retail is this. Call them over here second column, and we just multiply it. So two times. Two times, Uh, 8 40 plus three times 1800 plus five times 2400 plus zero plus six times 4900. And we conflict this into a calculator, and we actually get that the value is equal to 48. That was in 480. This is the total value of all the computers, the inventory retail price of the computers and I'm store to and part B asks for, uh, the wholesale inventory wholesale value of the inventory of store three. So story three was over here, and the wholesale value is in this column over here so wholesale and do the same thing with the same process 10 times, 700 less, four times 1400 Nice. Three times 1800 plus four times 2700 plus three times 3500. And get that this value is equal to plug this into calculator 39 1003 100 and parts. Uh, the next part asked that support part C Ask us what end times, Um so what? The interpretations are for, um, times and and end times them so I m times end. So the number off rose must a number of columns and EMP. The first matrix must be equal to the number of columns and number rose in the second. So a number of columns here is five and number of rows here is five as well. So on this is we can create a product from this. And the interpretation is that that value is the cost of inventory at both um, at both wholesale and Rees Hill prices, values and at each store. And when you look at in times M, the number of columns in a number of columns and is to a number of rows and is three. So since they're not equal to each other, we can't multiply this. So this is actually not possible, but end times and is possible. And in part, D asks us, uh, to find the, uh, product of end times M or sometimes and and to label the rows and columns so we can plug this into a calculator, unplug piece too together and multiplied these matrices and re actually get 33 4400 35,600 39,300 for you, 2160 48,480 and 50,700. So this is the, uh cost, and this represents right here. Um, store one studio one store to and store three. And this represents The first column represents wholesale prices and Second Column represents retail prices. And in part, E were asked to discuss the methods of multiplication that where we can find the total inventory each model. So total inventory of each model we can actually, uh well, we can actually just add the rose to find the total, um, price. This is asking for total inventory at all three stores of each model on hand. So for each model is, uh, corresponding to each column so we actually get that total is you could just multiply If we're not finding the value. We're only looking for the ah total inventory. We just add all of the ah, the rows together all the columns. So this is equal to four plus two plus three plus seven close one. So for us to the ST Louis spline and so this is equal to six was six and nine, 16 17 who? 17 at store one. The on store to is to lose three. Just five was fiber. Just 10. Six of this is 16 at store to ANS 10 plus 4 14 17 21 24 at store three. And just like that, we have the total inventories at all three stores, and we can add this up to um, achieve our finals. A final total of all of the products just 57 and then Part F were asked to find the were asked to discuss methods where we can find the total inventory of all what all five models at each store well to inventory off. So we already did that over here. If we want to find the total amount of each model, we can add the columns so we just add four plus tube was toothless. 10. This gives us 16 for Model A and then we add two plus three plus four. And this goes as nine for Model B, and then we add three plus five less three, which gives US 11 for Model C and seven less zero plus four. Joining us. A living for model model A D and Model E is one plus 60 plus three. Is this 10? And now we have all of these values and to find a total weaken, just multiply or ads are a 16 plus nine plus 11 plus 11 plus 10 is equal to 57. It was exactly what we got here. So which makes sense

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