Data for Lemons Experiment

Data for Lemons Experiment - Session 2 Dealer ID Number of...

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Data for Lemons Experiment The records turned in by the car dealers were not easy to decipher. I had to make some assumptions to complete these tables. Whether or not they are entirely accurate, you can use these numbers for your homework. Table 1 Distribution of Car Types Session 2 Session 3 Session 4 Number of Good Car Owners 15 10 10 Number of Lemon Owners 15 20 20 Table 2 Types of Cars Sold Session 2 Session 3 Session 4 Number of Good Cars Sold 14 5 10 Number of Lemons Sold 14* 19 20 Average Value of all cars sold $2000 $1125 $1534 *When we did a count by hands raised, we found 13 lemons. But the information on the sheets that were handed in show 14 lemons. Table 3 Purchases and Profits
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Unformatted text preview: Session 2 Dealer ID Number of Cars Bought by Dealer Dealer’s Total Cost Dealer’s Total Revenue Dealer’s Profit (or loss) 1 6 $11,100 2 1 $1991 3 10 $25000 4 2 $3980 5 9 $17919 6 Table 4 Purchases and Profits Session 3 Dealer ID Number of Cars Bought by Dealer Dealer’s Total Cost Dealer’s Total Revenue Dealer’s Profit (or loss) 1 2 9 $4500 3 4 5 15 $25500 6 Table 5 Purchases by Dealers Session 4 Dealer ID Expenditure on Good Cars Expenditure on Lemons Number of Good Cars Number of Lemons 1 31500 450 9 1 2 59990 12 3 3500 1 1 1 4 2496 5 5 499 1 6...
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Data for Lemons Experiment - Session 2 Dealer ID Number of...

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