15. Martinez Auto Supplies has retail stores located in eight cities in Californ

Question

15. Martinez Auto Supplies has retail stores located in eight cities in California. The price they charge for a particular product in each city varies because of differing competitive conditions. For instance, the price they charge for a case of a popular brand of motor oil in each city follows. Also shown are the number of cases that Martinez Auto sold last quarter in each city City Bakersfield Los Angeles Modesto Oakland Sacramento San Diego San Francisco San Jose Price ($) 34.99 38.99 36.00 33.59 40.99 38.59 39.59 37.99 Sales (cases) 501 1425 294 882 715 1088 1644 819 Compute the average sales price per case for this product during the last quarter.

Explanation / Answer

Solution:

Given that

Average sales price per case = fixi / fi = 280794.66/7368 = $38.11

Price(x) Sales(f) fx 34.99 501 17529.99 38.99 1425 55560.75 36 294 10584 33.59 882 29626.38 40.99 715 29307.85 38.59 1088 41985.92 39.59 1644 65085.96 37.99 819 31113.81 fi = 7368 fixi = 280794.66

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