A candle costing $0.67 and selling for $0.98 find the markup

2 answers:

6 0

The markup of the candle price is 0.31

5 0

Answer:

Mark up =0.46=46%.

Step-by-step explanation:

Mark up is the extra amount charged to a customer.

The formula to calculate Mark up is

Mark up = $\frac{Price - cost}{cost}$

It is given cost price of candle =$0.67 and selling price =$0.98.

Mark up = $\frac{0.98-0.67}{0.67} =0.46.$

0.46 when converted to percent is 0.46x100= 46%.

Mark upas a percent is 46%.

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morpeh [17]

The predictive value of a positive test is is 0.43.

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This question is solved using the concepts of sensitivity and specificity.

Sensitivity: It is the true negative rate, that is, the proportion of people without the disease that test negative.
Specificity: It is the true positive rate, that is, the proportion of people with the disease that test positive.

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Sensitivity of 60% means that of the 100 - 10 = 90% of people without the disease, 60% test negative and 100 - 60 = 40% test positive.
Specificity of 70% means that of the 10% with the disease, 70% test positive.

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The predictive value of a positive test is:

Probability of a positive test, which is 40% of 90% plus 70% of 10%, so:

$p = 0.4\times0.9 + 0.7\times0.1 = 0.43$