[41(8) The Banks Brothers Men\'s Clothiers, a regional chain of stores, is consi

Question

[41(8) The Banks Brothers Men's Clothiers, a regional chain of stores, is considering introducing a new line of designer clothes into some or all of the following districts. The marketing research staff reports that the product has been profitable whenever it is introduced into a district containing 500, 000 or more households whose gross annual purchase of men's clothing amounts to at least $350. Data on the three districts are shown below Annual Purchases Standard Number of Households Mean Median Mode Deviation 1,250,000 377 360 358 38 District Ohio St. Lawrence 1,000,000 365 340 31020 Yukon 1,350,000 353 352 350 10 (a) In your opinion, is Ohio a good candidate for a new store? Substantiate your answer. (b) In your opinion, is St. Lawrence a good candidate for a new store? Substantiate your answer.

Explanation / Answer

ANSWER (a): Standard deviation for ohio is 38 which is gretaer than Yukon(10) and st lawrence(20)

So Yukon is not a good candidate for new store.

(b) :

Standard deviation for St lawrence is 20 which is less than ohio(38) but greater than Yukon(10)

So St lawrence is a better candidate for new store than Ohio but Yukon is the best candidate for new store.

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