Final answer:
Mr. Ramirez uses matrices to track video sales by genre and format, which helps analyze revenue generation and compare revenues between DVDs and Blu-rays.
Step-by-step explanation:
Mr. Ramirez owns a video store and tracks the videos sold by genre and format using matrices. The genres are Comedy (C), Science Fiction (SF), Action (A), Romance (R), and Television Series (TV), with the formats being DVD and Blu-ray. Matrices enable efficient management of inventory and revenue analysis by categorizing data into a grid that can be reviewed incrementally or in entirety to gain insight into sales trends.
In terms of the matrix dimensions, they will likely be organized with genres as rows and formats as columns, resulting in a matrix with five rows and two columns. Matrices are an excellent tool for analyzing revenue generation as they can be used to calculate total sales for each genre and format by multiplying the quantity sold by the price of each video. When exploring video format revenue, matrices help to compare DVD and Blu-ray sales by applying the sum of products within the relevant format column.
For example, if Mr. Ramirez wants to calculate the total revenue from Comedy DVDs, he would multiply the quantity of Comedy DVDs sold by the price of each DVD. By analyzing the matrix as a whole, Mr. Ramirez can determine which genres and formats are most profitable and adjust his inventory accordingly to maximize revenue.