A store owner bought a painting for $120. She is selling it for $190. What is the percent markup on the painting
1 answer:
Answer:
The markup percent on the painting is 58.3%
Step-by-step explanation:
Here, The Cost price of the painting = $120
The selling price of the painting = $190
Hence, the total profit on the painting = Cost Price - Selling price
or Profit = $190 - $120 = $70
Now, Markup % = (Gross Profit / cost) x 100
⇒Markup % =
Hence, the markup percent on the painting is 58.3%
You might be interested in
Answer:
a)
Operating room x 1 2 3 4
P(x) 0.15 0.25 0.4 0.2
b)
The graph of probability distribution is in attached image.
c)
All the probabilities lies in the range (0 to 1) and the probabilities add up to 1 so, the computed probability distribution is the valid probability distribution.
Step-by-step explanation:
Number of operating rooms Days
1 3
2 5
3 8
4 4
a)
Sum of frequencies=1+2+3+4=10
Operating rooms x frequency f Relative frequency
1 3 3/20=0.15
2 5 5/20=0.25
3 8 8/20=0.4
4 4 4/20=0.2
So, using the relative frequency approach, a discrete probability distribution for number of operating rooms in use on any given day is
Operating room x 1 2 3 4
P(x) 0.15 0.25 0.4 0.2
b)
The graph of probability distribution is in attached image.
c)
There are two conditions for a probability distribution to be valid
1. All probability must ranges from 0 to 1.
2. All probabilities must add up to 1.
We can see that all the probabilities lies in the range (0 to 1), so, condition 1 is satisfied.
For condition 2,
sum[p(x)]= 0.15+0.25+0.4+0.2=0.4+0.6=1.
As the probabilities add up to 1, so the condition 2 is also satisfied.
Thus, the computed probability distribution is the valid probability distribution.
