Calculate the Missing Information, Rounding Dollars to the Nearest Cent

question 126

Short Answer

Calculate the missing information, rounding dollars to the nearest cent and percents to the nearest tenth percent: $\begin{array}{c}\begin{array}{lll}\\\underline{\text {Item}}\\\text { Game }\end{array}\begin{array}{lll}\\\underline{\text {Cost}}\\\\\end{array}\begin{array}{lll}\\\underline{\text {Markup}}\\\\\end{array}\begin{array}{lll}\text {Amount of}\\\underline{\text {Selling Price}}\\\$46.18\end{array}\begin{array}{lll}\text {Percent Markup}\\\underline{\text {Based on Cost}}\\75\%\end{array}\end{array}$

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Definitions:

Population Proportions

The fraction or percentage of a population that is characterized by a certain trait or attribute.

Sample Proportions

The ratio of members in a subset of a population to the total population, used in statistical analysis.

Normal Distribution

A bell-shaped probability distribution characterized by its mean and standard deviation, describing how data values are spread around the mean.

Mass Production Line

A method of manufacturing that uses assembly lines and automation to produce a large number of identical items quickly.