Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. A shop owner raises the price of a $150 pair of shoes by 40%. After a few weeks, because of falling sales, the owner

image text in transcribed
2. A shop owner raises the price of a $150 pair of shoes by 40%. After a few weeks, because of falling sales, the owner reduces the price of the shoes by 40%. A customer then says that the shoes are back at the original price. a. What is the mistaken assumption here? b. Why is that assumption incorrect? c. What do the shoes actually cost now? show calculation d. By what percent should the shoes be decreased in order to have the price back at $150? Round to the nearest 10th percentage. (for example if your decimal answer is .058267 your answer would be 5.8267% round to nearest 10th percent answer is 5.8%) show calculation

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Negative Binomial Regression

Authors: Joseph M Hilbe

2nd Edition

1139005960, 9781139005968

More Books

Students also viewed these Mathematics questions

Question

Pay him, do not wait until I sign

Answered: 1 week ago

Question

Speak clearly and distinctly with moderate energy

Answered: 1 week ago