A spring coat that cost $60.00 was marked up 20% of the cost. What was the price increase?
2 answers:
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Answer: 0.0023
Step-by-step explanation:
Let X be the binomial variable that represents the number of receipts will show that the above three food items were ordered.
probability of success p = 32% = 0.32
Sample size : n= 10
Binomial probability function :
Now, the probability that eight receipts will show that the above three food items were ordered :
hence, the required probability = 0.0023