Ron Larson
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Chapter 2 Review Exercises

Chapter 2 Review Exercises
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  • 9. Interpreting a Waterfall Graph

    The waterfall graph shows the pricing history of waffle makers at an appliance outlet. Find the initial retail price.

    • Worked-Out Solution

      The initial retail price is

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      _____      ___      ______     ___      ____    
 /  ___||   / _ \\   /_   _//   / _ \\   |  _ \\  
| // __    | / \ ||  `-| |,-   | / \ ||  | |_| || 
| \\_\ ||  | \_/ ||    | ||    | \_/ ||  | .  //  
 \____//    \___//     |_||     \___//   |_|\_\\  
  `---`     `---`      `-`'     `---`    `-` --`
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  • 10. Finding a Markup Percent

    The waterfall graph shows the pricing history of waffle makers at an appliance outlet. Find the initial markup percent.

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       _____     ___      ______    _____     _____   
  / ___//   / _ \\   /_____//  |  ___||  |__  //  
  \___ \\  | / \ ||  `____ `   | ||__      / //   
  /    //  | \_/ ||  /___//    | ||__     / //__  
 /____//    \___//   `__ `     |_____||  /_____|| 
`-----`     `---`    /_//      `-----`   `-----`  
                     `-`
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  • 11. Finding a Total Discount

    The waterfall graph shows the pricing history of waffle makers at an appliance outlet. Find the total discount.

    • Worked-Out Solution

      The total discount is

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      ______   _    _    __   _     _____     ______  
 /_   _// | || | || | || | ||  |  ___||  /_   _// 
 `-| |,-  | || | || | '--' ||  | ||__      | ||   
   | ||   | \\_/ || | .--. ||  | ||__     _| ||   
   |_||    \____//  |_|| |_||  |_____||  /__//    
   `-`'     `---`   `-`  `-`   `-----`   `--`
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  • 12. Finding an Average Markup Percent

    The waterfall graph shows the pricing history of waffle makers at an appliance outlet. You work at the outlet. You order 50 waffle makers at the wholesale price of $35 each. During the next 6 months, you repeatedly mark down the price until you finally sell all 50 waffle makers. Use the sales record below to find the average markup percent.

    • 20 sold at initial retail price
    • 14 sold at the first discount
    • 10 sold at the second discount
    • 6 sold at the third discount

     

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     _    _      ___     ______    __   __   _    _   
| |  | ||   / _ \\  |      \\  \ \\/ // | |  | || 
| |/\| ||  / //\ \\ |  --  //   \ ` //  | |/\| || 
|  /\  || |  ___  |||  --  \\    | ||   |  /\  || 
|_// \_|| |_||  |_|||______//    |_||   |_// \_|| 
`-`   `-` `-`   `-` `------`     `-`'   `-`   `-`
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  • 13. Finding a Discount Percent

    The waterfall graph shows the pricing history of waffle makers at an appliance outlet. What is the discount percent on the initial retail price after the second discount?

    • Worked-Out Solution

      The original retail price of the waffle maker was $60. The first two discounts total $15. So the discount percent after the second discount is

      In other words, after the second discount, the waffle maker is "25% off."

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     _    _     _____    _____     _    _    _    _   
| || | ||  |  ___|| |  __ \\  | || | || | \  / || 
| || | ||  | ||__   | |  \ || | || | || |  \/  || 
| \\_/ ||  | ||__   | |__/ || | \\_/ || | .  . || 
 \____//   |_____|| |_____//   \____//  |_|\/|_|| 
  `---`    `-----`   -----`     `---`   `-`  `-`
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  • 14. Finding a Discount Percent

    The waterfall graph shows the pricing history of waffle makers at an appliance outlet. When applying the third discount, the store advertises a 50% discount.

    1. Did the store use the initial retail price or the price after the second discount to calculate the discount percent? Explain your reasoning.
    2. Suppose the store had used the other price in part (a). What is the discount percent?
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      ______     ___     __   _     _____     _____   
 /_   _//   / _ \\  | || | ||  |  ___||  / ____|| 
   | ||    / //\ \\ | '--' ||  | ||__   / //---`' 
  _| ||   |  ___  ||| .--. ||  | ||__   \ \\___   
 /__//    |_||  |_|||_|| |_||  |_____||  \_____|| 
 `--`     `-`   `-` `-`  `-`   `-----`    `----`
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  • 15. Finding a Discounted Price

    The waterfall graph shows the pricing history of waffle makers at an appliance outlet. You get an employee discount of 10% off any item. You buy a waffle maker after the first discount. How much do you pay?

    • Worked-Out Solution

      After the first discount, the price of the waffle maker is $55. You get 10% off this price.

      So, your discounted price is $49.50.

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      ______   _    _    _____       ___              
 /_   _// | || | || |  __ \\    / _ \\    ____    
   | ||   | || | || | |  \ ||  | / \ ||  |    \\  
  _| ||   | \\_/ || | |__/ ||  | \_/ ||  | [] ||  
 /__//     \____//  |_____//    \___//   |  __//  
 `--`       `---`    -----`     `---`    |_|`-`   
                                         `-`
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  • 16. Finding a Final Price

    The waterfall graph shows the pricing history of waffle makers at an appliance outlet. You get an employee discount of 50% off any item.

    1. What is the final price when you apply the first discount and then apply the employee discount?
    2. What is the final price when you apply the employee discount and then apply the first discount?
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       _____    _____   __    __   __   __     _____  
  / ___//  |  ___|| \ \\ / //  \ \\/ //   / ___// 
  \___ \\  | ||__    \ \/ //    \ ` //    \___ \\ 
  /    //  | ||__     \  //      | ||     /    // 
 /____//   |_____||    \//       |_||    /____//  
`-----`    `-----`      `        `-`'   `-----`
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