In a school theater performance, 150 tickets were sold, some for $30 and others for $20, how many tickets were sold of each pric
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Answer:
10.5 %
<u>Skills needed: Financial Math Essentials</u>
Step-by-step explanation:
1) First, before getting started, let's assume the price of the product is . This variable will be used a lot throughout the problem (
).
2) Marking a price above means increasing the price in order to make money off of the purchased product. When raising something by percent, the new price would be
.
---> In this case, the price increased by percent.
This means that it would be:
New price is:
3) The shopkeeper is then offering a percent discount off of this marked price. When offering a
percent discount price, the new price (with discount), expressed algebraically is:
---> the expression above simplifies to
In this case, ,
--->
This means that , with discount, has been raised
.
10.5 % is the profit percent
(The profit percent being the final marked up price - purchased price)
26.8% of examinees will score between 600 and 700.
This question is based on z score concept.
A Z-score is a numerical measurement that describes a value's relationship to the mean of a group of values. Z-score is measured in terms of standard deviations from the mean. If a Z-score is 0, it indicates that the data point's score is identical to the mean score.
where:
μ is the mean
σ is the standard deviation of the population
Given:
μ = 560
σ = 90
For
600≤ X≤700
for x = 700
Z score =x - μ/σ
=(700 - 560)/90
= 1.55556
P-value from Z-Table:
P(560<x<700) = P(x<700) - 0.5 = 0.44009
for x = 600
Z score =x - μ/σ
=(600 - 560)/90
= 0.44444
P-value from Z-Table:
P(560<x<600) = P(x<600) - 0.5 = 0.17164
∴ P(600<x<700) = P(560<x<700) - P(560<x<600)
= 0.44009 - 0.17164
=0.26845
∴26.8% percentage of examinees will score between 600 and 700.
Learn more about Z score here :
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