A Company's Net Sales Were $676,600,its Cost of Goods Sold

question 120

Multiple Choice

A company's net sales were $676,600,its cost of goods sold was $236,810 and its net income was $33,750.Its gross margin ratio equals:

• A)5%.
• B)9.6%.
• C)35%.
• D)65%.
• E)285.7%.

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Definitions:

Central Tendency

A measure that represents the center point or typical value of a dataset.

Average

A statistical measure that determines the central tendency of a set of numbers by dividing the sum of all numbers by the count of the numbers.

Outliers

Those scores in a distribution that are noticeably much more extreme than the majority of scores. Whether a score is an outlier or not is usually an arbitrary decision made by the researcher.

Percentile

A measure indicating the value below which a given percentage of observations in a group of observations falls.