Two-Part Analysis Flashcards

A blend of two coffees: Type A costs $8/lb and Type B costs $5/lb. A 10 lb blend costs $6.50/lb total. How many pounds of each type are in the blend?

Answer: A=5 lbs, B=5 lbs

8a + 5b = 65 and a + b = 10; solving: a = 5, b = 5.

A fund earns simple interest. $20,000 invested earns $3,600 over 3 years. What is the annual interest rate AND the total value after 3 years?

Answer: Rate=6%, Value=$23,600

Interest = P × r × t; 3,600 = 20,000 × r × 3; r = 6%; total = $20,000 + $3,600 = $23,600.

A company's workforce is 60% full-time and 40% part-time. Full-time employees earn $70K/yr and part-time earn $30K/yr. The company has 100 employees. What is the total annual payroll AND average salary?

Answer: Payroll=$5.0M, Average=$50K

60 full-time × $70K = $4.2M; 40 part-time × $30K = $1.2M; total = $5.4M; average = $54K.

Candidate A scores 85% on a 100-question test and Candidate B scores 72% on a 150-question test. How many questions did A get right AND how many more questions did B get right than A?

Answer: A=85, B got 23 more right

A correct = 85; B correct = 0.72 × 150 = 108; difference = 108 − 85 = 23.

A project timeline has two parallel tracks. Track 1 has tasks of 3, 5, and 4 days. Track 2 has tasks of 6 and 6 days. What is Track 1's total duration AND the critical path duration (longer track)?

Answer: Track 1=12 days, Critical=12 days

Track 1 = 3+5+4 = 12 days; Track 2 = 6+6 = 12 days; both tracks are equal at 12 days.

A price increases from $120 to $150. Demand falls from 200 to 170 units. What is the percent price increase AND the price elasticity of demand?

Answer: Price increase=25%, Elasticity=-0.6

Price increase = (150-120)/120 = 25%; demand change = (170-200)/200 = -15%; elasticity = -15%/25% = -0.6.