The shop makes 25% profit if the cost price per dress is R280.
The answer I think should be 0.2, and I just used my calculator so I dont really know how to explain how to do it. I dont know FOR SURE if that answer is right tho.
Using the p-value method, the decision rule is:
- |z| < 1.645: do not reject the null hypothesis.
- |z| > 1.645: reject the null hypothesis.
<h3>What is the relation between the p-value and the test hypothesis?</h3>
Depends on if the p-value is less or more than the significance level:
- If it is more, the null hypothesis is not rejected.
- If it is less, it is rejected.
In this problem, we have a two-tailed test, as we are testing if the mean is different of a value. For a significance level of 0.1, the critical value of z(when a p-value of 0.1 is obtained) is of |z| = 1.645, hence the decision rule is:
- |z| < 1.645: do not reject the null hypothesis.
- |z| > 1.645: reject the null hypothesis.
More can be learned about p-values at brainly.com/question/13873630
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Try looking for the worksheet with the answer key