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pickupchik [31]
3 years ago
10

CB clothing ordered sweaters at a wholesale cost of $20 each. The store marked up the price by 50% above the wholesale cost to u

se as their selling price. After every month that the sweater didn't sell, the store reduced the selling price by 20% . After how many monthly price reductions did the price dip below the wholesale cost?
Mathematics
1 answer:
alexira [117]3 years ago
3 0

Answer:

<u>2 months</u>

Step-by-step explanation:

Consider, we told that the store marked up the price by 50% above the wholesale cost to use as their selling price, meaning, CB clothing's initial selling price is $30.

Thus, if after every month that the sweater didn't sell, the store reduced the selling price by 20% of the initial selling price of $30, which means there will be a $6 deduction from the initial price (20% * $30).

So, for

  • the first month; $30-$6 = $24
  • the second month; we subtract another 20% from $24 which is $24-$4.8 = $19.2 (a price that has now dipped below the wholesale cost).
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The mean shoe size of the students in a math class is 7. 5. Most of the shoe sizes fall within 1 standard deviation, or between
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2 years ago
A firm’s marketing manager believes that total sales for next year will follow the normal distribution, with a mean of $3.2 mill
klasskru [66]

Answer:

The sales level that has only a 3% chance of being exceeded next year is $3.67 million.

Step-by-step explanation:

When the distribution is normal, we use the z-score formula.

In a set with mean \mu and standard deviation \sigma, the zscore of a measure X is given by:

Z = \frac{X - \mu}{\sigma}

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.

In this question, we have that:

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\mu = 3.2, \sigma = 0.25

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X = 3.67

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3 years ago
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