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pryuen

Posted: Fri Dec 07, 2007 2:52 am 


Posts: 58946Location: Hong Kong/ChinaJoined: Tue Feb 25, 2003 5:13 am

Saw this funny article by Wang Meng from Titan Sports.
So how many of you got the correct answer?
And are the Rockets players that dumb and stupid ???
HAHAHA !!!
Quote: http://nba.sports.tom.com/20071207/0424/10254877.htmlReporter Wang Meng reports from Houston
It was originally just an ordinary morning. As per their usual schedule, the Rockets players arrived onto the training court and started their shootout practice in preparation for the game versus the Memphis Grizzlies in the evening. All the players knew this game in the evening was very important, because they could not afford to lose again. It was pretty peaceful and quiet on the training court, with only sound of the basketballs bouncing off the floor.
But Yao Ming brought life and joy to his team mates and the crew with an elementary school mathematic quiz; everyone was fighting to give their answers, but every of the answers were different (and wrong); so there was all fun and laughter on the court.
So the mathematic quiz that Yao Ming brought forth went like this:
Mike is the owner of a shoes store. Each pair of shoes is at cost of $15. And after a profit of $6 added onto it, each pair of shoes is sold at $21. So one day, a customer came in to buy a piar of shoes, and handed Mike a $50 dollar bill. Mike just went out of change, and had to go over to his neighbor to change the 50 dollar bill into bills of different denominations. So after giving the customer the change, and the customer left, the neighbor came and claimed that the $50 dollar bill was fake. So Mike had to give the neighbor another $50 dollar bill to settle the dispute.
The question is: how much money Mike lost at the end of the day?
So as soon as Yao Ming's mathematical quiz came out, everyone was busy, looking all over the places for paper and pencil and started calculation. Not only the players joined the quiz; all the training staff and ballboys joined the fun. Yao Ming looked at the players and the crew, sort of laughing in his heart; he learnt about the quiz the day earlier, and it took him about 2 minutes for the right answer. He knew there were traps in the quiz, and he knew well in advance alot of his team mates and crew will be fooled.
So after a while, everyone got his own answer; and when each one read out his answer, Yao Ming shook his head. So this made the others more curious and enthusiastic as they all thought they had got the right answer. So after a long while, finally someone managed to come up with the correct answer. Yao Ming went over and looked at his calculation. Yao Ming was completely dumbfounded when he found on the paper: 100  66 = 44. Yao Ming could not help but laughed out loud heartily, and said: "This is but a quiz that we gave to 10yearold girls (in China)."
Of course there are still people within the Rockets that gave the correct answer. Cho, the crew that was responsible for video recording and editing gave the correct answer within less than 5 seconds. Later he told Yao Ming that his major in the university was mathematics.
Deke Mutombo was just watching and did not join in the craze when everyone was busily doing their calculation. Uncle Mutombo cracked a joke and said:"Why the heck all these troubles? It's just a fake $50 dollar bill. Just find ways to spend it, and that will solve the problem."

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win2007

Posted: Fri Dec 07, 2007 4:20 am 


Posts: 216Joined: Thu Nov 10, 2005 8:13 am

Total loss = change to customer + cost of the pair of shoe
= 5021 + 15; or
= 506
= 44
but actually that's a stupid question, nowaday, the markup is 300% to 600% at least. 6 dollars profit over a 15 dollars pair of shoe is out of reality nowaday.

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NYC Yao Fan in UMich

Posted: Fri Dec 07, 2007 7:04 am 


Posts: 3993Location: ChinaJoined: Mon Nov 17, 2003 11:47 am

my friend works as a buyer at a high end department store(think Neiman Marcus, Nordstrom, Saks), he told me that something you spend $100 on, will cost them about $10$15 to buy. So even if they mark it down by 50%, it's still a 300% profit margin.
Nice article Pry, it took me about 10 minutes to come up with an answer, thus proving my theory that my brain is dying.

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battousai

Posted: Fri Dec 07, 2007 7:23 am 


Posts: 4114Joined: Wed Aug 11, 2004 11:57 am

At the end of the day the owner lost $100 dollars
The theft earn $21 shoe plus $29 the change = $50 = owner lost $15 in cost of goods sold and opportunity for profit + $6 and then out of pocket change of $29.
Owner turn around and gave a fresh $50 dollars bill to his neighbor.
the owner now left with a fake $50 bill, $21 worth of shoe, and $29 change.
Last edited by battousai on Fri Dec 07, 2007 7:35 am, edited 1 time in total.

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battousai

Posted: Fri Dec 07, 2007 7:27 am 


Posts: 4114Joined: Wed Aug 11, 2004 11:57 am

win2007 wrote: Total loss = change to customer + cost of the pair of shoe = 5021 + 15; or = 506 = 44
but actually that's a stupid question, nowaday, the markup is 300% to 600% at least. 6 dollars profit over a 15 dollars pair of shoe is out of reality nowaday.
you got half of the answer right, beside you forgot the opportunity cost of $6
owner lost $21 +profit to the scammer and his $29 change.
however, you neglected the fact that the owner was holding a fake $50 bill.
Which means he lost $100 in total.

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pryuen

Posted: Fri Dec 07, 2007 7:51 am 


Posts: 58946Location: Hong Kong/ChinaJoined: Tue Feb 25, 2003 5:13 am

battousai wrote: win2007 wrote: Total loss = change to customer + cost of the pair of shoe = 5021 + 15; or = 506 = 44
but actually that's a stupid question, nowaday, the markup is 300% to 600% at least. 6 dollars profit over a 15 dollars pair of shoe is out of reality nowaday. you got half of the answer right, beside you forgot the opportunity cost of $6 owner lost $21 +profit to the scammer and his $29 change. however, you neglected the fact that the owner was holding a fake $50 bill. Which means he lost $100 in total.
Actually, the answer was in Wang Meng's article.....it is 44.
The customer gave Mike the fake $50 dollar bill.
The fake $50 dollar bill is exchanged with different denomination with the neighbor.
$29 is given away as change to the customer + the pair of shoes at $15.
Mike had to return a real $50 dollar bill to the neighbor and given back the fake $50 dollar bill.
So end of day, Mike lost $44, and had a fake $50 bill with him.
So the fake $50 is just a dummy from beginning to end.

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battousai

Posted: Fri Dec 07, 2007 8:26 am 


Posts: 4114Joined: Wed Aug 11, 2004 11:57 am

pryuen wrote: battousai wrote: win2007 wrote: Total loss = change to customer + cost of the pair of shoe = 5021 + 15; or = 506 = 44
but actually that's a stupid question, nowaday, the markup is 300% to 600% at least. 6 dollars profit over a 15 dollars pair of shoe is out of reality nowaday. you got half of the answer right, beside you forgot the opportunity cost of $6 owner lost $21 +profit to the scammer and his $29 change. however, you neglected the fact that the owner was holding a fake $50 bill. Which means he lost $100 in total. Actually, the answer was in Wang Meng's article.....it is 44.
The customer gave Mike the fake $50 dollar bill.
The fake $50 dollar bill is exchanged with different denomination with the neighbor.
$29 is given away as change to the customer + the pair of shoes at $15.
Mike had to return a real $50 dollar bill to the neighbor and given back the fake $50 dollar bill.
So end of day, Mike lost $44, and had a fake $50 bill with him.
So the fake $50 is just a dummy from beginning to end.
maybe i am not getting this but you said " So end of day, Mike lost $44, and had a fake $50 bill with him.
So the fake $50 is just a dummy from beginning to end.[/size]
(let's disregard the $6 profit for now to make things easier)
so at the end of the day the owner lost $15 shoes and $29 change to the crook and got stuck with a fake $50 bill.
Now isn't that a total of $94 dollars lost? (with $6 as profit or opportunity cost)?
owner can't use that fake $50 bill and he used his own real $50 in exchange of that fake one back.
The Owner stuck with a fake $50 bill, lost $21 shoes (or $15), plus that $29 change he gave to the crook.
if you don't consider that Fake bill, then $44 (or $50), I counted that Fake $50 bill as you can't use it, then it is $100 (or 94)

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battousai

Posted: Fri Dec 07, 2007 8:46 am 


Posts: 4114Joined: Wed Aug 11, 2004 11:57 am

By the way pryuen where did you get the offical correct answer?
I went to that link and the article itself has no answer (i can read chinese).
There was a forum open for discussion.
people believed the answer is $44 (26 votes),
people believed the answer is $94 (20 votes),
and few votes for $79.
of course most of them don't think opportunity cost (profit $6) should be included. Which I understand.
I still don't see a distinct answer on this question.

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MnYaoFan

Posted: Fri Dec 07, 2007 11:28 am 


Posts: 962Joined: Fri Oct 03, 2003 11:22 pm

Think of it this way.
1.)Neighbor gives you $50.00 in different bills.
You give him back the $50.00 as recovery for the fake bill.
YOu are now even with the neighbor. Net loss $0.00
2)Customer (theif) gets $29 in change and $15 in shoe cost.
29+15=44 worth of loss. Potential profits and emotional loss should be excluded at this point because those are subjective.
(Net loss $44.00)
3) You get a fake $50 bill worth exactly $0.00.
Overall loss on total exchange is $44.oo as Pruyen said.
Took me more time to write this then to solve the equation.
But I laughed when I saw one of the answers in the story:
Quote: Yao Ming was completely dumbfounded when he found on the paper: 100  66 = 44. And this person passed grade school?

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ThePrivate

Posted: Fri Dec 07, 2007 1:07 pm 


Posts: 2422Location: HTownJoined: Thu Aug 02, 2007 8:37 am

battousai wrote: By the way pryuen where did you get the offical correct answer?
I went to that link and the article itself has no answer (i can read chinese).
There was a forum open for discussion.
people believed the answer is $44 (26 votes), people believed the answer is $94 (20 votes), and few votes for $79.
of course most of them don't think opportunity cost (profit $6) should be included. Which I understand.
I still don't see a distinct answer on this question.
man, you a disgrace to chinese. this is more a logic question than mathematics.
the loss is the change he gave to the customer = $29
the cost of the shoes minus profit = $15
why that so hard for you to figure out?

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