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4vir4ik [10]
3 years ago
13

A plumbing supplies manager realises he has a profit margin of 15%. His total sales for a month came $23,000. How much of this i

s profit?
Mathematics
1 answer:
mart [117]3 years ago
6 0
The percentage of profit margin that
the plumbing supplies manager realizes that he has = 15%
Total sales for the month made by the plumbing supplies manager = $23000
Then
Amount of profit that has been made
by the plumbing sales manager = 15% * 23000 dollars
                                                    = (15/100) * 23000 dollars
                                                     = 15 * 230 dollars
                                                     = 3450 dollars
So the plumbing manager makes a profit of $3450 in the month as can be seen from the above deduction.
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99% confidence interval for the proportion of people who disagree with the statement is [0.667 , 0.713].

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We are given that a survey that asked whether people agree or disagree with the statement ‘‘There is only one true love for each person." has been conducted. The result is that 735 of the 2625 respondents agreed, 1812 disagreed, and 78 answered ‘‘don’t know."

Firstly, the pivotal quantity for 99% confidence interval for the population proportion is given by;

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<em>Here for constructing 99% confidence interval we have used One-sample z proportion statistics.</em>

<u>So, 99% confidence interval for the population proportion, p is ;</u>

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P(-2.58 < \frac{\hat p-p}{\sqrt{\frac{\hat p(1-\hat p)}{n} } } < 2.58) = 0.99

P( -2.58 \times {\sqrt{\frac{\hat p(1-\hat p)}{n} } } < {\hat p-p} < 2.58 \times {\sqrt{\frac{\hat p(1-\hat p)}{n} } } ) = 0.99

P( \hat p-2.58 \times {\sqrt{\frac{\hat p(1-\hat p)}{n} } } < p < \hat p+2.58 \times {\sqrt{\frac{\hat p(1-\hat p)}{n} } } ) = 0.99

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= [ 0.69-2.58 \times {\sqrt{\frac{0.69(1-0.69)}{2625} } } , 0.69+2.58 \times {\sqrt{\frac{0.69(1-0.69)}{2625} } } ]

 = [0.667 , 0.713]

Therefore, 99% confidence interval for the proportion of people who disagree with the statement is [0.667 , 0.713].

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