RETAIL MARKETING OF MEATS 
77 
livery markets into the same groups would give meaningless results, 
since gross margin and expenses are regularly higher in the delivery 
than in the carry groups of equal volume of sales. In so far as it is 
applicable, it is found that the median gives results not greatly dif- 
ferent from the weighted average. (See Table 42 and compare Table 
28.) The interquartile range (Table 42) is helpful in correcting an 
exaggerated idea of definiteness that is likely to result from the use 
of a single figure for each group and subgroup, within which there 
is, in fact, great variation in the various items of expense and profits. 
Table 42. — Gross margin, net profit, total expense, and wages in the retail 
meat trade shown as median and as range of middle 50 per cent of individual 
markets grouped by class of service and by volume of annual sales, calendar 
year 1919 
(Percentages calculated on basis of net sales as 100 per cent) 
MEDIAN 
Groups by class of serv- 
ice and annual sales 
Num- 
ber of 
stores 
Cost of 
goods 
Gross 
margin 
Net profit 
Total 
expense 
Salaries and 
wages 
Carry stores: 
Under $25,000 
$25,000 to $50.000 
$50,000 to $100,000... 
Over $100,000 
Delivery stores: 
Under $25,000 
$25,000 to $50.000 
$50,000 to $100,000... 
$100,000 to $200,000. . 
Over $200,000 
11 
22 
28 
12 
13 
40 
43 
25 
12 
Per cent 
81.71 
80.90 
81.67 
82.51 
78.31 
79.98 
80.83 
81.04 
81.79 
Per cent 
18.29 
19.10 
18.33 
17.49 
21.69 
20.02 
19.17 
18.96 
18.21 
Per cent 
2.14 
2.66 
3.16 
1.45 
1.24 
1.57 
1.65 
2.76 
4.00 
Per cent 
17.58 
16.88 
14.41 
14.72 
18.86 
17.64 
16.47 
15.68 
13. 96 
Per cent 
9.85 
10.50 
9.45 
8.85 
11.90 
11.25 
10.53 
9.23 
8.15 
RANGE OF MIDDLE 50 PER CENT 
Carrystores: 
Under $25,000 
$25,000 to $50,000 
$50,000 to $100,000. __ 
Over $100,000 
Delivery stores: 
Under $25,000.. 
$25,000 to $50,000 
$50,000 to $100,000. _. 
$100,000 to $200,000.. 
Over $200,000 
80.80 to 83.48 
78.52 to 84.00 
79.48 to 85.64 
80.54 to 84.57 
75.14 to 80.58 
77.28 to 81.77 
78.62 to 84.41 
78.92 to 85.06 
80.14 to 82.90 
16. 52 to 19.20 
16.00 to 21.48 
14.36 to 20.52 
15.43 to 19.46 
19.42 to 24.86 
18.23 to 22.72 
15.59 to 21.38! 
14.94 to 21.08J 
17.10 to 19.861 
-0.17 to 3.54 
■0.45 to 3.69 
1.10 to 5.83 
1.01 to 2.83 
0.88 to 6.12 
0.20 to 3.28 
0.37 to 3.65 
0.58 to 4.87 
2.57 to 5.97 
15.13 to 18.53 
14.73 to 17.67 
12.49 to 16.63 
12.83 to 17.02 
18.34 to 20.52 
15.38 to 21.13 
15.39 to 18 
12.66 to 18.19 
13.89 to 15.21 
9.58 to 11.92 
9.39 to 11.52 
8.52 to 10.87 
6.95 to 11.23 
10.74 to 12.70 
9.37 to 13.82 
9.74 to 11.47 
7.57 to 10.80 
7.34 to 9.47 
The median in statistical usage is the middle item of a series when there is an odd number in the series 
and is a point half way between the two middle items when an even number. In the series of data from 
which this table is taken, one-half of the items in each series is above and the other half below the figure 
given in the table as the median. 
The range of middle 50 per cent, known in statistical usage as the interquartile range, is the range shown 
by the remaining items of a series after excluding the one-quarter of the total number of items at each 
end of the series. In the series of data from which this table is taken, the lowest one-quarter and the 
highest one-quarter of the total number of items in each series is excluded, leaving the range of the middle 
50 per cent, as shown in the table. 
INVESTMENT AND STOCK TURN 
In determining the amount of capital investment in the business, 
as in store and office equipment, delivery equipment, stock of mer- 
chandise carried, and cash-and-credit balance for current use, cer- 
tain special problems and difficulties Avere encountered: 
(1) Accounting records were found to be less satisfactory with 
reference to investment items than with reference to costs, sales, 
and current expenses. Fortunately, for the purpose of studying ex- 
penses and profits, the amount of total investment in the meat trade 
is so small that the element of error that might result in such items 
