The Conservative Cave
Current Events => The DUmpster => Topic started by: Aristotelian on August 19, 2011, 10:12:09 AM
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Tuesday Afternoon (1000+ posts) Thu Aug-18-11 12:34 PM
Original message
If each item on your grocery list goes up by 4% then has the total cost
of your groceries only gone up by 4%?
please show the math.
tia.
The newly unemployed banker Chan790 leaps in with a quick perspicacious answer.
Chan790 (1000+ posts) Thu Aug-18-11 12:45 PM
Response to Original message
1. In MD, no.
Not much math required.
Some items are untaxed as "food" and other items are taxed as "consumables" (the second one being all prepared foods, soda, and a wide definition of junk food that includes things like sweetened breakfast cereal and frozen pizza and jelly but not "preserves" or peanut butter) so the net change in your grocery bill would depend on the quantities of the items purchased and their taxable status.
For example:
2 pizzas @ $8...16 +tax = $17.60
4 bags of taters @ $4 +tax^0 = $16
Same purchase amounts, different totals because of tax-policy.
This answer has one minor drawback...it's utterly wrong, as demonstrated fairly simply:
struggle4progress (1000+ posts) Thu Aug-18-11 07:36 PM
Response to Reply #1
8. That shouldn't matter. Suppose there are n classes of grocery items
C1, C2, C3, ... , Cn
taxed at rates r1, r2, r3, ... , rn
and the prices of all items go up p%
The old total would have been
C1*(1 + r1) + C2*(1 + r2) + ... + Cn*(1 + rn)
The new total is
(1 + p/100)*C1*(1 + r1) + (1 + p/100)*C2*(1 + r2) + ... + (1 + p/100)*Cn*(1 + rn)
= (1 + p/100)*(C1*(1 + r1) + C2*(1 + r2) + ... + Cn*(1 + rn))
So the new total is (1 + p/100) times the old total: the total has gone up by p%. It wouldn't matter if some classes Cj were untaxed (rj = 0)
Clearly not being one to hide his ignorance
Chan790 (1000+ posts) Thu Aug-18-11 10:37 PM
Response to Reply #8
9. This is going to sound very bad because until recently I advised people on major financial decisions
That was entirely over my head, I have about a 5th grade comprehension of mathematics: arithmetic, pre-algebra and I naturally "get" geometry and trigonometry more than my other math skills would suggest. I fulfilled my college math requirements with accounting courses and a visual-math class meant as an elective for engineers and architects. Also, CAD.
If you can diagram that, I might get it.
Major financial decisions...somehow I think not, when simple proportions are beyond you. Wouldn't want him calculating my interest...
The right answer to the original question is even in there:
Lionel Mandrake (1000+ posts) Thu Aug-18-11 05:28 PM
Response to Original message
7. The total goes up by approximately 4%.
The approximation is not exact for two reasons:
1. The price of a single item can not go up by exactly 4% unless that price is a multiple of 25 cents.
2. Taxes are rounded to the nearest penny. Thus it's unlikely that the tax will go up by exactly 4%.
Nevertheless, the total cost increase will be close to 4%
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=105x9761159 (http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=105x9761159)
I love it when they try to talk clever...
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DUmmie trying to figure out how many more steaks he has to stuff in his shorts to keep his grocery bill the same.
ETA: When a DUmmie says he has a case of the blue balls it means he has been in the frozen food section of the store.
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I don't know. I use coupons and get my food for nearly free. You can make a box of Nilla Wafers $50 and I'll find a way to make it free with a coupon and a sale.
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9. This is going to sound very bad because until recently I advised people on major financial decisions
My bank teller has never informed me of financial decisions. Are they even allowed to do so? They usually just give me a receipt and hand a lollipop to my daughter.
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The practice of investment advice, the sale of investment securities and the sale of insurance products are regulated and therefore an individual must pass an exam, affiliate with a firm and register with one or more states before conducting business.
That's for the license.
Yep, they can give you a reciept and a lollipop. Maybe a dog biscuit if you're in the drive-through. That's it.
Why do these DUmmies always exaggerate? Padding a resume is the lamest thing. Why not strive for great things for real?
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Chan790 (1000+ posts) Thu Aug-18-11 10:37 PM
Response to Reply #8
9. This is going to sound very bad because until recently I advised people on major financial decisions
"Sir, sir, can you hear me? Put your check in the cannister, set it under the vacuum tube, and press the green button. Thank you, sir."
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Perhaps Chan790 can now advise customers whether to get fries or onion rings with their whopper?
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Tuesday Afternoon
If each item on your grocery list goes up by 4% then has the total cost of your groceries only gone up by 4%?
please show the math.
tia.
tia??
Oh look, the primitive is calling out to TruthIsAll. He could write a whole book on how the exit polls were right, and the items on your grocery list you thought had gone up 4% had really gone down 3%. The grocery items were stolen!!!!
.
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The parking lot price of foodstamp groceries has taken a dive...just like the stock market. ...and it's cutting into DUmmies recreational drug funds.