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3 years ago

A dealer bought an article for $7 sold it for $8 bought it back for $9 and then sold it for $10 how much profit did he make

1 answer:

5 0

To the total amount of money that a dealer spent is $7 + $9 or %16. His revenue from selling the same articles is $8 + $10 which is equal to $18. The profit is the difference between the total revenue and total cost.
profit = $18 - $16 = $2
Thus, the dealer has a profit of $2.

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2 years ago

A manufacturer of banana chips would like to know whether its bag filling machine works correctly at the 436.0 gram setting. It

Vilka [71]

Answer:

We conclude that the machine is under filling the bags.

Step-by-step explanation:

We are given the following in the question:

Population mean, μ = 436.0 gram

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Sample size, n = 40

Alpha, α = 0.05

Population standard deviation, σ = 23.0 grams

First, we design the null and the alternate hypothesis

$H_{0}: \mu = 436.0\text{ grams}\\H_A: \mu < 436.0\text{ grams}$

We use one-tailed(left) z test to perform this hypothesis.

Formula:

$z_{stat} = \displaystyle\frac{\bar{x} - \mu}{\frac{\sigma}{\sqrt{n}} }$

Putting all the values, we have

$z_{stat} = \displaystyle\frac{429 - 436}{\frac{23}{\sqrt{40}} } = -1.92$

Now, $z_{critical} \text{ at 0.05 level of significance } = -1.64$

Since,

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We reject the null hypothesis and accept the alternate hypothesis. Thus, we conclude that the machine is under filling the bags.

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3 years ago