The wholesale price of a TV is 55% less than the retail price. Therefore, the wholesale price is _____ times the retail price.

2 answers:

3 0

Let x be the retail price of the TV
55% of x is 0.55x
Wholesale price = x - 0.55x
Wholesale price = x(1 - 0.55)
= 0.45x
The wholesale price is 0.45 times the retail price.

Lisa [10]3 years ago

3 0

<span>Therefore, the wholesale price is _55/100=11/20=0.55____ times the retail price.
it seems that the wholesale prise is the half of the retail price</span>

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Step-by-step explanation:

Previous concepts

A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".

The margin of error is the range of values below and above the sample statistic in a confidence interval.

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

The population proportion have the following distribution

$p \sim N(p,\sqrt{\frac{\hat p(1-\hat p)}{n}})$

The margin of error for the proportion interval is given by this formula:

$ME=z_{\alpha/2}\sqrt{\frac{\hat p (1-\hat p)}{n}}$ (a)

If solve n from equation (a) we got:

$n=\frac{\hat p (1-\hat p)}{(\frac{ME}{z})^2}$ (b)

Part a

In order to find the critical value we need to take in count that we are finding the interval for a proportion, so on this case we need to use the z distribution. Since our interval is at 90% of confidence, our significance level would be given by $\alpha=1-0.9=0.1$ and $\alpha/2 =0.05$ . And the critical value would be given by: