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The average of 10 numbers is 20. If a number equal in value to the largest of the 10 given numbers is added to the given set, the average increases by 1. But instead of adding the number, if the largest number itself is deleted, then what will be the average?
  • a)
    16.66
  • b)
    18.77
  • c)
    20.01
  • d)
    20.33
Correct answer is option 'B'. Can you explain this answer?
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The average of 10 numbers is 20. If a number equal in value to the lar...
Sum of 10 numbers = 200
Assume that x is the maximum.
If x is deleted, average
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The average of 10 numbers is 20. If a number equal in value to the lar...
Given Information:

- There are 10 numbers.
- The average of these 10 numbers is 20.

Adding the largest number:

- Let's assume the largest number in the given set is 'x'.
- If we add 'x' to the given set, the total sum of the numbers would increase by 'x'.
- The new sum of the 11 numbers would be the sum of the original 10 numbers plus 'x'.
- The new average would be the new sum divided by 11.
- It is given that the new average is 1 more than the original average, which means the new average is 21.
- So, we have the equation: (sum of the original 10 numbers + x) / 11 = 21.

Finding the value of 'x':

- We know that the average of the original 10 numbers is 20, so the sum of the original 10 numbers is 20 multiplied by 10, which is 200.
- Substituting this value in the equation, we have: (200 + x) / 11 = 21.
- Solving this equation, we get: 200 + x = 231.
- Therefore, x = 231 - 200 = 31.

Deleting the largest number:

- If we delete the largest number from the given set, the total sum of the remaining 9 numbers would decrease by 31.
- The new sum would be the sum of the original 10 numbers minus 31.
- The new average would be the new sum divided by 9.
- So, the new average would be (200 - 31) / 9 = 169 / 9 = 18.77.

Conclusion:

- Therefore, if instead of adding the largest number, we delete it, the new average would be 18.77.
- Hence, the correct answer is option 'B' - 18.77.
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Directions: Read the following passage carefully and answer the questions given at the end.Last Thursday Starbucks raised their beverage prices by an average of 1% across the U.S, a move that represented the company's first significant price increase in 18 months. I failed to notice because the price change didn't affect grande or venti (medium and larg e) brewed coffees and I don't mess with smaller sizes, but anyone who purchases tall size (small) brews saw as much as a 10 cent increase. The company's third-quarter net income rose 25% to $417.8 million from $333.1 million a year earlier, and green coffee prices have plummeted, so what gives?Starbucks claims the price increase is due to rising labor and non-coffee commodity costs, but with the significantly lower coffee costs already improving their profit margins, it seems unlikely this justification is the true reason for the hike in prices. In addition, the price hike was applied to less than a third of their beverages and only targets certain regions. Implementing such a specific and minor price increase when the bottom line is already in great shape might seem like a greedy tactic, but the Starbucks approach to pricing is one we can all use to improve our margins. As we've said before, it only takes a 1% increase in prices to raise profits by an average of 11%.For the most part, Starbucks is a master of employing value-based pricing to maximize profits, and they use research and customer analysis to formulate targeted price increases that capture the greatest amount consumers are willing to pay without driving them off. Profit maximization is the process by which a company determines the price and product output level that generates the most profit. While that may seem obvious to anyone involved in running a business, it's rare to see companies using a value-based pricing approach to effectively uncover the maximum amount a customer base is willing to spend on their products. As such, let's take a look at how Starbucks introduces price hikes and see how you can use their approach to generate higher profits. While cutting prices is widely accepted as the best way to keep customers during tough times, the practice is rarely based on a deeper analysis or testing of an actual customer base. In Starbucks' case, price increases throughout the company's history have already deterred the most price-sensitive customers, leaving a loyal, higher-income consumer base that perceives these coffee beverages as an affordable luxury. In order to compensate for the customers lost to cheaper alternatives like Dunkin Donuts, Starbucks raises prices to maximize profits from these price-insensitive customers who now depend on their strong gourmet coffee.Rather than trying to compete with cheaper chains like Dunkin, Starbucks uses price hikes to separate itself from the pack and reinforce the premium image of their brand and products. Since their loyal following isn't especially price-sensitive, Starbucks coffee maintains a fairly inelastic demand curve, and a small price increase can have a huge positive impact on their margins without decreasing demand for beverages. In addition, only certain regions are targeted for each price increase, and prices vary across the U.S. depending on the current markets in those areas (the most recent hike affects the Northeast and Sunbelt regions, but Florida and California prices remain the same).They also apply price increases to specific drinks and sizes rather than the whole lot. By raising the price of the tall size brewed coffee exclusively, Starbucks is able to capture consumer surplus from the customers who find more value in upgrading to grande after witnessing the price of a small drip with tax climb over the $2 mark. By versioning the product in this way, the company can enjoy a slightly higher margin from these customers who were persuaded by the price hike to purchase larger sizes.Starbucks also expertly communicates its price increases to manipulate consumer perception. The price hike might be based on an analysis of the customer's willingness to pay, but they associate the increase with what appears to be a fair reason. Using increased commodity costs to justify the price as well as statements that aim to make the hike look insignificant (less than a third of beverages will be affected, for example) help foster an attitude of acceptance.As stated in the passage, an effective way to increase prices would include

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The average of 10 numbers is 20. If a number equal in value to the largest of the 10 given numbers is added to the given set, the average increases by 1. But instead of adding the number, if the largest number itself is deleted, then what will be the average?a)16.66b)18.77c)20.01d)20.33Correct answer is option 'B'. Can you explain this answer?
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The average of 10 numbers is 20. If a number equal in value to the largest of the 10 given numbers is added to the given set, the average increases by 1. But instead of adding the number, if the largest number itself is deleted, then what will be the average?a)16.66b)18.77c)20.01d)20.33Correct answer is option 'B'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about The average of 10 numbers is 20. If a number equal in value to the largest of the 10 given numbers is added to the given set, the average increases by 1. But instead of adding the number, if the largest number itself is deleted, then what will be the average?a)16.66b)18.77c)20.01d)20.33Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The average of 10 numbers is 20. If a number equal in value to the largest of the 10 given numbers is added to the given set, the average increases by 1. But instead of adding the number, if the largest number itself is deleted, then what will be the average?a)16.66b)18.77c)20.01d)20.33Correct answer is option 'B'. Can you explain this answer?.
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