Real-Life Math -- Solution
Step A
The receiving bill total is
$20,779.00. Is this correct?
Managing a retail outlet involves double-checking
the invoices and receiving bills for goods. So you calculate the total cost
for each type of club, and then add them up.
| 3 sets of Callaway clubs x $2,995 per set = $8,985 |
| 4 sets of Spalding clubs x $996 per set = $3,984 |
| 6 sets of Golden Bear clubs x $1,200 per set =
$7,200 |
| 3 sets of Greenaway clubs x $200 per set = $600 |
| Total = $20,769 |
The receiving bill is incorrect. You must contact the wholesale
company to report the problem.
Step B
To calculate
retail prices:
The top-of-the-line clubs (in this case, the Golden
Bear clubs and the Callaway clubs):
Callaway retail
price = $2,995 x 1.2
Callaway retail price = $3,594
Golden
Bear retail price = $1,200 x 1.2
Golden Bear retail price = $1,440
The
intermediate-priced clubs (in this case, the Spalding clubs):
Spalding
retail price = $996 x 1.25
Spalding retail price = $1,245
The
lower end clubs (Greenaway):
Greenaway retail price = $200
x 1.33
Greenaway retail price = $266
"You've got to
be able to do a budget... and if you're at a private club you're going to
present that and discuss that with your board of directors. And if you're
at any other facility you still have someone to answer to," says golf pro
Mark Csencsits. "You can't survive without math. Even for me, for my private
lessons, I'm always crunching numbers -- how can I get the most value for
the least amount of money, and still make it worth my time?"