A businessman bought three machines at rs 5400 each and spent 4000 on rearing and sold the machines for Rs Rs 7000 each, how muc
1 answer:
Answer:
<h3>Step-by-step explanation:
Cost price of three machines with repairment charge ( CP ) = 5400 × 3 + 4000
= Rs 20200
Selling price of 1 machine = Rs 7000
Selling price of 3 machines ( S.P )= Rs 7000 × 3
= Rs 21000
Since , SP > CP , he made a profit
Profit = SP - CP
= Rs 21000 - Rs 20200
= Rs 800
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Further more explanation
<u>Profit </u><u>and </u><u>loss</u>
In any business , owners have intension to have profit by selling articles. The price at which an article is purchased is called it's Cost price ( C.P ) and the price at which it is sold is called Selling price ( S.P ).
If the selling price is less than cost price of an article then there is a loss.
If the selling price is more than cost price of an article then there is a profit ( gain )
So, If S.P > C.P, there is profit in dealing.
If C.P > SP , there is loss in dealing.
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Answer:
If we compare the p value and the significance level given we see that
so we can conclude that we have enough evidence to reject the null hypothesis, and we can conclude that the true mean is higher than 1,7 entrees per order at 2% of signficance.
Step-by-step explanation:
Data given and notation
represent the mean
represent the sample standard deviation
sample size
represent the value that we want to test
represent the significance level for the hypothesis test.
t would represent the statistic (variable of interest)
represent the p value for the test (variable of interest)
State the null and alternative hypotheses.
We need to conduct a hypothesis in order to check if the mean is higher than 1.7, the system of hypothesis would be:
Null hypothesis:
Alternative hypothesis:
If we analyze the size for the sample is > 30 but we don't know the population deviation so is better apply a t test to compare the actual mean to the reference value, and the statistic is given by:
(1)
t-test: "Is used to compare group means. Is one of the most common tests and is used to determine if the mean is (higher, less or not equal) to an specified value".
Calculate the statistic
We can replace in formula (1) the info given like this:
P-value
The first step is calculate the degrees of freedom, on this case:
Since is a one side test the p value would be:
Conclusion
If we compare the p value and the significance level given we see that
so we can conclude that we have enough evidence to reject the null hypothesis, and we can conclude that the true mean is higher than 1,7 entrees per order at 2% of signficance.