A car dealer can buy midsize cars for 12% under the list price, and he can buy

Question:

A car can buy midsize cars for 12% under the list price, and he can buy luxury cars for 15% under the list price. The following table gives the list prices for two midsize and two luxury cars.

Write these data in a matrix and multiply it on the left by the matrix

What does each entry in this product matrix represent?

Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...