1. Find the percent markup.
Markup ($) = percent markup (%) x original cost ($)
A computer store buys a laptop for $635 directly from the manufacturer (Dell). The markup is $570. What is the percent markup on the computer?
The percent markup is: <u> </u><u>90</u><u> </u>%
FORMULA: Percent of Markup = Markup/Cost x 100
Answer: (23.53, 25.47)
Step-by-step explanation:
The confidence interval for population mean(when population standard deviation is unknown) is given by :-
, where = sample mean
n = sample size.
s = sample standard deviation.
t* = Critical value.
Given :
s= 4.4
Confidence level = 90% =0.090
Significance level =
Sample size : n= 58
Degree of freedom : df= n-1= 57
Using t-distribution table , the critical value :
Then, the confidence interval will be :-
Hence, a 90% confidence interval for the population mean = (23.53, 25.47)