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Senior Manager
Joined: 23 Jan 2021
Posts: 294
Given Kudos: 81
Concentration: , International Business
Someone needs to import a number of sets of bottles. Each bottle charg
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07 Nov 2021, 19:01
07 Nov 2021, 19:01
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Question Stats:
40% (01:40) correct
60% (02:02) wrong based on 5 sessions
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Someone needs to import a number of sets of bottles. Each bottle charges $12.04, and it also charges $4.8 for shipping each set (not single bottle but a whole set). The standard deviation of numbers of bottles in each set is 1.5. What is the standard deviation of the prices for each set?
Give your answer as a decimal .
Give your answer as a decimal .
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18.06
Intern
Joined: 09 Apr 2021
Posts: 13
Given Kudos: 26
GRE 1: Q154 V157
Someone needs to import a number of sets of bottles. Each bottle charg
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07 Nov 2021, 21:06
07 Nov 2021, 21:06
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For questions like these, where exactness is missing, I always tend to pick up smart numbers and check for a pattern. So here, we don't know the number of bottles present in each set. Hence, will consider 1 and 2.5 as the number of bottles in two consecutive sets. (SInce standard deviation between two sets of bottles is 1.5, which gives 1 + 1.5 = 2.5 ).
1. Cost of a set that has 1 bottle = (1 x 12.04) + 4.8 = 16.84
2. Cost of a set that has 2.5 bottles = (2.5 x 12.04) + 4.8 = 34.9
3. Difference of costs between these two = 34.90 - 16.84 = 18.06
This difference can be verified with any pair of sets which are one standard deviation away from each other. Hence the standard deviation of prices for each set is 18.06 .
1. Cost of a set that has 1 bottle = (1 x 12.04) + 4.8 = 16.84
2. Cost of a set that has 2.5 bottles = (2.5 x 12.04) + 4.8 = 34.9
3. Difference of costs between these two = 34.90 - 16.84 = 18.06
This difference can be verified with any pair of sets which are one standard deviation away from each other. Hence the standard deviation of prices for each set is 18.06 .
Senior Manager
Joined: 23 Jan 2021
Posts: 294
Given Kudos: 81
Concentration: , International Business
Re: Someone needs to import a number of sets of bottles. Each bottle charg
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07 Nov 2021, 22:28
07 Nov 2021, 22:28
kkrpawkal123 wrote:
For questions like these, where exactness is missing, I always tend to pick up smart numbers and check for a pattern. So here, we don't know the number of bottles present in each set. Hence, will consider 1 and 2.5 as the number of bottles in two consecutive sets. (SInce standard deviation between two sets of bottles is 1.5, which gives 1 + 1.5 = 2.5 ).
1. Cost of a set that has 1 bottle = (1 x 12.04) + 4.8 = 16.84
2. Cost of a set that has 2.5 bottles = (2.5 x 12.04) + 4.8 = 34.9
3. Difference of costs between these two = 34.90 - 16.84 = 18.06
This difference can be verified with any pair of sets which are one standard deviation away from each other. Hence the standard deviation of prices for each set is 18.06 .
1. Cost of a set that has 1 bottle = (1 x 12.04) + 4.8 = 16.84
2. Cost of a set that has 2.5 bottles = (2.5 x 12.04) + 4.8 = 34.9
3. Difference of costs between these two = 34.90 - 16.84 = 18.06
This difference can be verified with any pair of sets which are one standard deviation away from each other. Hence the standard deviation of prices for each set is 18.06 .
sir, I am confused in the highlighted part.
