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Business Math Mathematical Model needed for new product.

JAE1XINMD

New member
Dec 20, 2013
3
Hi All,

Have the following given and would like some help with the 3 questions below. Any help will be greatly appreciated :)




City 1
TOTAL POPULATION CITY 1 100,000
Avg Age of Population 27.8
Median Age (Male) 20.5
Median Age (Female) 27.8
% Male Population 46.43%
% Female Population 53.57%
% 16 & over 92.43%
% 18 & over 91.83%
% 21 & over 41.92%
% 65 & over 4.90%


% of US Female Population (ages 15 - 44) that need Product X: 11%



Questions (Methedology used)
1. How many females between the age of 25 - 40 live in City 1.
2. What % of females between the age of 25 - 40 need Product X.
3. How many females between the age of 25-40 in City 1 need Product X.

My Methodology

Get % of inidvuduals in the 25 - 40 year range
Year between 25 -40 including 25 & 40 = 16
Years between 21 - 64 including 21 & 64 = 45
I am now looking for 16 of the 45 years = 36% of the age range
% in the desired range = 37% x 36% = 13.15 %
% 21 - 64 : 41.92 % - 4.90 % = 37%


my answers


Questions (Methedology used)
1. How many females between the age of 25 - 40 live in City 1? 100,000 * 53.57= 53,570 (Females); 53,570 x 13.15% = 7,044
2. What % of females between the age of 25 - 40 need Product X? There are 31 years betwween 15 - 44 incl. 15 & 44, looking for 16 years so it would be 11% x 52% = 6%
3. How many females between the age of 25-40 in City 1 need Product X? 7,044 x 6% = 423
 
Last edited:

MarkFL

Administrator
Staff member
Feb 24, 2012
13,775
Can you show us what you've tried so our helpers know where you are stuck and/or may be going wrong?
 

JAE1XINMD

New member
Dec 20, 2013
3
I've updated the post with my methodology
 

HallsofIvy

Well-known member
MHB Math Helper
Jan 29, 2012
1,151
Questions (Methedology used)
1. How many females between the age of 25 - 40 live in City 1? 100,000 * 53.57= 53,570 (Females);
Okay, there are 100,000 people in City 1 and 53.57% of them are women (but you are really multiplying 100000 by .5357, not 53.57).

53,570 x 13.15% = 7,044

But where did you get 13.15%?
The given data does not say anything about ages "25" and "40".

2. What % of females between the age of 25 - 40 need Product X? There are 31 years betwween 15 - 44 incl. 15 & 44, looking for 16 years so it would be 11% x 52% = 6%
Why "15" and "44" when the question was about "25" and "40"? (Oh, and the product of two percentages is NOT a percentage.)

3. How many females between the age of 25-40 in City 1 need Product X? 7,044 x 6% = 423
 

JAE1XINMD

New member
Dec 20, 2013
3
Thanks for the reply. So is there a way to figure out 1, 2 & 3 with the given info? I need to figure out how to calculate the the percentages for the ideal age range of 25 through 40.

Note: % of US Female Population (ages 15 - 44) that need Product X: 11% _ this is a Given


"53,570 x 13.15% = 7,044

But where did you get 13.15%?
The given data does not say anything about ages "25" and "40"."

Comment: the 13.15% needs to be calculated based on the Given demographic info





2. What % of females between the age of 25 - 40 need Product X? There are 31 years betwween 15 - 44 incl. 15 & 44, looking for 16 years so it would be 11% x 52% = 6%

From the 15-44 range what % need product X that are in the 25 - 40 age range.


"Why "15" and "44" when the question was about "25" and "40"? (Oh, and the product of two percentages is NOT a percentage.)
How many females between the age of 25-40 in City 1 need Product X? 7,044 x 6% = 423"

Comment: 25 through 40 is the ideal age range but the correct percentages must be calculated from the Given info. How would I be able to get to the correct percentages for the ideal age ranges?