A buyer plans to purchase 250 towels for the store's harvest sale and to retail each towel for $7.50. He has placed an order for 128 towels that cost $3.25 each. What is the most he can pay for each of the remaining towels if he wishes to average a 42% markup?
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
chapter 5
10. A buyer plans to purchase 250 towels for the store's harvest sale and to retail each towel for $7.50. He has placed an order for 128 towels that cost $3.25 each. What is the most he can pay for each of the remaining towels if he wishes to average a 42% markup?
Present your answer with a dollar-sign, comma separator, and rounded to the penny (i.e. $1,250.88).
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images
