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On Days 1 through 4 of a recent week, Product X was out of stock at Retailer R. Day 1 shoppers are those shoppers who came to Retailer R on Day 1 of that week seeking Product X. For each of the first 3 days of that week, the graph shows the subsequent behavior of all the Day 1 shoppers who came to Retailer R seeking Product X on that day. Shoppers at Retailer R who purchased a different item in lieu of Product X paid an average of 30% more for the item.
From each drop-down menu, select the option that creates the most accurate statement based on the information provided
| Text Component | Content | Interpretation |
|---|---|---|
| Stockout Period | On Days 1 through 4 of a recent week, Product X was out of stock at Retailer R. | Product X was unavailable at Retailer R for four consecutive days. |
| Definition of Day 1 Shoppers | Day 1 shoppers are those shoppers who came to Retailer R on Day 1 of that week seeking Product X. | The analysis focuses on people seeking Product X on Day 1. |
| Scope of Shopper Behavior Analysis | For each of the first 3 days of that week, the graph shows the subsequent behavior of all the Day 1 shoppers. | Day 1 shoppers' actions were tracked on Days 1, 2, and 3. |
| Substitute Purchase Price | Shoppers at Retailer R who purchased a different item in lieu of Product X paid an average of 30% more for the item. | Substitute items cost 30% more than Product X on average. |
| Day | % Purchased Substitute (Black) | % Returned Next Day (Gray) | % Did Not Return That Week (Teal) |
|---|---|---|---|
| Day 1 | 60% | 25% | 15% |
| Day 2 | 41% | 19% | 40% |
| Day 3 | 22% | 13% | 65% |
_____% of Day 1 shoppers returned to the store on Day 3.
Statement Breakdown 1:
Statement Breakdown 2:
What is needed: What percent of the original Day 1 shoppers were present at the store on Day 3 (i.e., returned both Day 2 and Day 3).
Condensed Solution Implementation:
Multiply the percent of Day 1 shoppers who returned on Day 2 by the percent of those who then returned on Day 3.
Necessary Data points:
25% of Day 1 shoppers returned on Day 2; 19% of those who returned on Day 2 came back again on Day 3.
Calculations Estimations:
\(\mathrm{0.25 \times 0.19 = 0.0475 = 4.75\%}\)
Comparison to Answer Choices:
4.75% falls between 1% and 10%.
Shoppers at Retailer R who purchased substitute items from other manufacturers on Day 1 paid a total amount that was approximately _____% of the total all Day 1 shoppers would have paid had each of them been able to purchase Product X on Day 1.
Statement Breakdown 1:
Statement Breakdown 2:
What is needed: What percent of the hypothetical total (everyone buying Product X at regular price) was actually spent by the substitute purchasers (who paid a higher price, but there were fewer of them)?
Condensed Solution Implementation:
Calculate the total amount spent on substitutes by multiplying 60% by 1.3 (because substitutes cost 30% more), then divide by the hypothetical total (100% at regular price), and multiply by 100 for percent.
Necessary Data points:
60% of Day 1 shoppers bought substitutes; substitutes cost 30% more than Product X.
Calculations Estimations:
Let Product X's price be P. Actual spent: \(\mathrm{0.6 \times 1.3P = 0.78P}\). Hypothetical spent: \(\mathrm{1.0P}\). So, \(\mathrm{\frac{0.78P}{1.0P} = 0.78}\) (or 78%).
Comparison to Answer Choices:
78% matches the answer choice of 78.
By multiplying the probability of returning each day, we see only about 5% (specifically 4.75%) of initial shoppers are still returning on Day 3. For the spending question, substitute purchases totaled 78% of what would have been spent if everyone bought Product X, because only 60% made a purchase but each substitute cost 30% more than Product X.
These questions are independent. The first is about tracking return visits, while the second is a ratio of total expenditure from Day 1 buyers. Solving one does not affect or depend on the other.