Apple Turnover Paper

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For this study, an apple turnover was shown to participants who were usually originally unwilling. The participants were then asked “how much would you pay for this pastry?” Participants answers varied between $0 and $5 and averaged at $1.80; however, both the median and mode were $1. I believe these measures to have been more negatively skewed by the people who were not willing to buy the turnover, seeing as the majority of the data is at or above $1. The standard deviation was 1.8, and all the data that is not $5 is covered by the first deviation from the mean.
The pastry originally cost $0.89. If the snacks were to be resold at the mean price of $1.80, a profit of $0.91 would be generated for each product sold. However, if people unwilling to spend any money on the apple turnover were removed from this average, the average would be $2.30. Turnovers sold at this price would generate a profit of $1.41 each. I believe this thinking is skewed because it does not account for the amount of product sold. The graph below outlines the profit generated by selling at a certain price, the number of people willing to pay the price or more, and the total profit made. …show more content…
In addition to making the most profit, buying less turnovers means that there are less transportation costs and upfront costs involved. However, in the event that many apple turnover sales were necessary to protect an old supply from going bad, 225% more sales would occur when selling at $2, again, assuming all Polaris students behave like those

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