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-A shop owner raises the price of a $100 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.
-What is the mistaken assumption here?
-Why is that assumption incorrect?
-What do the shoes actually cost now?
-By what percent should the shoes be decreased in order to have the price back at $100? Round to the nearest percentage. (for example if your decimal answer is .058267 your answer would be 5.8267% round to nearest percent answer is 6%)
Post a null hypothesis and alternate hypotheses for your research question and identify the dependent and independent variables
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