You Work at a Sporting Goods Store

question 6

Multiple Choice

You work at a sporting goods store. You are considering adding baseball gloves and bats to your inventory. What would be the selling price of baseball bats with a mark-up percentage of 85% (cost is $12) and the baseball gloves with a target gross margin of 60% (cost is $20) .

• A) Selling Price (bats) = $32; Selling Price (gloves) = $10.2
• B) Selling Price (bats) = $37; Selling Price (gloves) = $22
• C) Selling Price (bats) = $22.20; Selling Price (gloves) = $50
• D) Selling Price (bats) = $24; Selling Price (gloves) = $25.00
• E) None of these answers is correct.

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Definitions:

Variability

The degree by which data points in a statistical distribution or dataset differ from each other and from the mean value.

Confidence

A measure of the reliability or certainty in statistical results, often expressed as a confidence interval or level.

Aptitude Tests

Assessments designed to measure a person's ability to acquire skills or knowledge, often used in educational and professional settings.

Population Means

The average of all the values in a population, representing the central tendency of the population data.