A shoe store marks up is merchandise by 8%. what was the selling price of a shoe whose whole price is $24.50?
1 answer:
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Answer:
109.33
Step-by-step explanation:
given that the population has a distribution with a mean of 110 and a standard deviation of 8
Sample size n = 40
Std error of sample mean = std dev/square root of sample size
=
From std normal distribution table we find that 30th percentile for Z is
-0.5244
Corresponding x score =
30th percentile = 109.33663
=109.33