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Cost Analysis of Christmas Hampers Using Matrices

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Laura C. Gervais
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0% found this document useful (0 votes)
59 views7 pages

Cost Analysis of Christmas Hampers Using Matrices

Uploaded by

Laura C. Gervais
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Title

Using Matrices to Calculate the Cost of Preparing 10 Christmas Hampers with Different
Item Combinations

Introduction
This project explores the use of matrices to calculate the cost of preparing 10 Christmas
hampers, each containing a different combination of 10 items from milk, rice, and oil. The
item prices given are:

 Milk — $5.00
 Rice — $6.50
 Oil — $8.00

The aim is to use matrices to determine:

1. The total cost of each hamper


2. The total cost of producing all 10 hampers, even though their contents differ

Matrices help organize the data clearly and make calculation efficient.

Method of Data Collection


All prices and requirements were taken directly from the scenario.
A list of quantities for milk, rice, and oil was created for each basket under the condition:

 Each hamper must contain 10 items total, but in different combinations.

These quantities were tabulated and used to form the quantity matrix.
Presentation of Data
Item Prices
Item Cost
Milk $5.00
Rice $6.50
Oil $8.00

Cost Matrix (Matrix B)

[ ]
5
B= 6.50
8

Quantities in Each Hamper (10 Hampers with Different


Mixes)
Hamper # Milk Rice Oil Total Items

1 4 3 3 10

2 5 2 3 10

3 3 4 3 10

4 6 1 3 10

5 2 5 3 10

6 3 2 5 10

7 4 4 2 10

8 1 6 3 10

9 5 3 2 10

10 2 4 4 10
Quantity Matrix (Matrix A)

[]
4 3 3
5 2 3
3 4 3
6 1 3
2 5 3
A=
3 2 5
4 4 2
1 6 3
5 3 2
2 4 4
Analysis of Data
To find the cost of each hamper:

Cost ¿=A × B

Compute each row individually.

Cost Calculations

1. Hamper 1:

4 (5)+3(6.50)+3(8)=20+19.50+24=$ 63.50

2. Hamper 2:

5(5)+2(6.50)+3(8)=25+13+24=$ 62.00

3. Hamper 3:

3(5)+ 4(6.50)+3(8)=15+26+ 24=$ 65.00

4. Hamper 4:

6 (5)+1( 6.50)+3 (8)=30+6.50+ 24=$ 60.50

5. Hamper 5:

2(5)+5(6.50)+3(8)=10+32.50+24=$ 66.50

6. Hamper 6:

3(5)+2(6.50)+5(8)=15+13+ 40=$ 68.00

7. Hamper 7:

4 (5)+4 (6.50)+2(8)=20+26+16=$ 62.00

8. Hamper 8:

1(5)+6( 6.50)+3 (8)=5+39+24=$ 68.00


9. Hamper 9:

5(5)+3(6.50)+2(8)=25+19.50+16=$ 60.50

10. Hamper 10:

2(5)+4 (6.50)+ 4(8)=10+26+32=$ 68.00

Cost Summary Table

Hamper Cost
1 63.50
2 62.00
3 65.00
4 60.50
5 66.50
6 68.00
7 62.00
8 68.00
9 60.50
10 68.00

Total Cost of All Hampers

Add all costs:

63.50+62.00+ 65.00+60.50+66.50+ 68.00+62.00+68.00+60.50+ 68.00=$ 644.00


Discussion of Findings
Matrices helped to organize varying quantities for each hamper and calculate their costs
efficiently.

Findings show that:

 Costs differ because quantities differ


 The cheapest hampers cost $60.50
 The most expensive hampers cost $68.00
 The total cost to produce all 10 unique hampers is $644.00

Using matrices allowed for quick multiplication without manually recalculating each hamper
from scratch.
Conclusion
Matrices proved very useful in determining the cost of preparing hampers with different
contents. By arranging quantities in a matrix and multiplying by a cost matrix, the total cost of
each hamper was calculated accurately and efficiently.

The project concludes that:

 Each hamper has a different cost, depending on its item mix


 The total cost to prepare all 10 hampers is $644.00

This demonstrates the real-world value of matrices in budgeting and organizing financial data.

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