What Is the Cost of an Item for Which the Retail

question 233

Multiple Choice

What is the cost of an item for which the retail selling price is $860 and the margin is 25% of the selling price?

• A) $215
• B) $688
• C) $645
• D) $445
• E) $1,147

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Definitions:

Likelihood Of Error

The probability or chance that a statistical conclusion may be incorrect or misleading.

Mean

An average of a set of numbers, calculated by dividing the sum of all the values by the number of values.

Z Score

A numerical calculation indicating how a specific value's distance from the group's average is expressed in multiple standard deviations.

Mean

The arithmetic average of a set of numbers, calculated by adding them all up and dividing by the quantity of numbers.