Calculate the Missing Information, Rounding Dollars to the Nearest Cent

question 49

Short Answer

Calculate the missing information, rounding dollars to the nearest cent and percents to the nearest tenth percent: $$\begin{array} { l l l l l l } & & \text { Amount of } & \text { Selling } & \begin{array} { l } \% \text { Markup } \\\text { based on }\end{array} & \begin{array} { l } \% \text { Markup Based } \\\text { on Selling }\end{array} \\\text { Item } & \text { Cost } & \text { Markup } & \text { Price } & \text { Cost } & \text { Price } \\\text { Bicycle } & \$ 236.25 & & \$ 315.00 & &\end{array}$$

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Definitions:

Confidence Interval

A range of values, derived from the sample data, that is used to estimate the true value of a population parameter with a specified level of confidence.

Variance

A statistical measure that represents the degree of spread in a dataset or the variability of the observations from the average.

Population Mean

The average value of a particular characteristic within an entire population.

Confidence Intervals

A range of values, derived from the sample data, that is likely to contain the value of an unknown population parameter, with a certain level of confidence.