An Item Is Originally Priced to Sell for $55 and Is

question 87

Multiple Choice

An item is originally priced to sell for $55 and is marked down 20%. A customer has a coupon for an additional 40%. What is the total percent reduction for this item? Give the net decimal equivalent and total percent reduction.

• A) 0.52; 48%
• B) 0.6; 40%
• C) 0.4; 60%
• D) 0.48; 52%

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Definitions:

Little's Law

A theorem in queuing theory that states the long-term average number of customers in a stationary system is equal to the long-term average effective arrival rate multiplied by the average time a customer spends in the system.

Mean Service Rate

The average rate at which a service process completes or services customers in a given time period.

Probability

The likelihood of an event happening, measured on a scale from 0 (impossibility) to 1 (certainty).

System

An organized set of interrelated elements or components that systematically work together to achieve a specific goal or objective.