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soldier1979 [14.2K]
3 years ago
8

Shaniqua's restaurant utilizes a product cost percentage pricing system. What should be the selling price for a steak dinner she

sells if her total plate cost for the dinner is $7.00 and her desired product cost is 25%?
A. $28.00
B. $3.57
C. $10.00
D. $35.71
Business
1 answer:
natima [27]3 years ago
4 0

Answer:

option (A) $28.00

Explanation:

Data provided in the question:

Total cost of Shaniqua's plate = $7.00

Desired product cost = 25%

Now,

Let the selling price for a steak dinner be 'x'

therefore,

[(Total cost of plate) ÷ (Selling price)] × 100% = 25%

or

[ $7 ÷ x] = 0.25

or

or

x = $7 ÷ 0.25

or

x = $28

Hence,

correct answer is option (A) $28.00

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Complete Question:

Golf-course designers have become concerned that old courses are becoming obsolete since new technology has given golfers the ability to hit the ball so far. designers, therefore, have proposed that new golf courses need to be built expecting that the average golfer can hit the ball more than 230 yards on average. suppose a random sample of 152 golfers be chosen so that their mean driving distance is 229.9 yards. the population standard deviation is 41.4. use a 5% significance level.

Calculate the followings for a hypothesis test where H0:μ = 230 and H1:μ < 230 :

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t - statistic = -0.02977977

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A.) The test statistic can be calculated using the formula;

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t = (229.9 - 230) ÷ (41.4/sqrt(152))

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With the p value sufficiently greater than 0.05, There is no sufficient evidence to warrant rejection of the claim that the mean driving distance is equal to 230

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