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3 years ago

The manager of a store orders model railroad sets that cost $390 and sells them for $429. What is the mark-up, as a percentage?

Mathematics

1 answer:

Katarina [22]3 years ago

4 0

Answer:

10%

Step-by-step explanation:

We have been given that the manager of a store orders model railroad sets that cost $390 and sells them for $429.

We will use markup % formula for our given problem.

$\text{Markup percentage}=\frac{\text{Selling price- Cost}}{\text{Cost}}\times 100$

$\text{Markup percentage}=\frac{429-390}{390}\times 100$

$\text{Markup percentage}=\frac{39}{390}\times 100$

$\text{Markup percentage}=\frac{1}{10}\times 100$

$\text{Markup percentage}=10$

Therefore, markup is 10% of cost.

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Answer:

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Step-by-step explanation:

Part a: Concepts and formulas to use

We need to conduct a hypothesis in order to test the claim that the true proportion p is greatr than 0.3, so then the system of hypothesis are.:

Null hypothesis: $p \leq 0.3$

Alternative hypothesis: $p > 0.3$

Right tailed test

When we conduct a proportion test we need to use the z statisitc, and the is given by:

$z=\frac{\hat p -p_o}{\sqrt{\frac{p_o (1-p_o)}{n}}}$ (1)

The One-Sample Proportion Test is used to assess whether a population proportion $\hat p$ is significantly different from a hypothesized value $p_o$ .

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Since is a right tailed test the p value would be:

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Part c

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