HELP PLEASE BRAINLY FOR RIGHT ANSWER
1 answer:
You might be interested in
Answer:
The value of the test statistic is -3.14.
Step-by-step explanation:
Test statistic:
In which X is the sample mean, is the expected value,
is the standard deviation and n is the size of the sample.
A company advertises that its cans of caviar each contain 100 g of their product.
This means that
They calculate a sample mean weight of 99 g and a sample standard deviation of 0.9 g. Sample of 8 cans.
This means that
So the test statistic will be given by:
The value of the test statistic is -3.14.
Given parameters:
Cost price of the article = Nu.28.30
Selling price of the article = Nu.29.30
Unknown:
Gain percentage = ?
The gain percentage is the same as the percentage profit on a trade.
The formula is given as:
Gain percentage =
Profit = Selling price - Cost price
= Nu.29.30 - Nu.28.30
= Nu. 1
Now input the parameters and solve;
Gain percentage =
= 3.5%
The gain percent is 3.5%