The Mean Corporation has two major franchise operations each with many outlets a

Question

The Mean Corporation has two major franchise operations each with many outlets across the country: a coffee house franchise and a fast food franchise. For both franchises, a statistician has collected and analyzed data for the annual profits of the outlets. Figures for the means and standard deviations are presented in the table below Mean Mean deviation Franchise Mean Standard Corporation Coffee243,000 42,500 Fast food697,50091,000 John Q owns both a coffee and fast food franchise. His annual profit for the coffee house is $362,000 and his annual profit for the fast food franchise is $861,300. a) Calculate the standardized values for both franchises. Give your answer rounded to 1 decimal place. Coffee standardized value = Fast food standardized value = b) Relative to the rest of the outlets in each group, John's coffee franchise is performin than his fast food franchise better worse

Explanation / Answer

a) Coffee standardized value = (362000 - 243000)/42500 = 2.8

Fast food standardized value = (861300 - 697500)/91000 = 1.8

b) better

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