Explanation Given information: A company’s gross profit margin P can be computed P = R − C R Where, R is the company’s revenue and C is the cost of goods sold. During a recent fiscal year, computer company Apple had revenues of $32.5 billion and cost of goods sold $21.3 billion Concept Used: To find value of function when the value of variables in function is given, we simply replace the variables by their given value and find the value of function corresponding to those variables. For example value of below function when x = 2 and y = 1 is found by replacing these variables by value from the function t = x y ⇒ t = 2 1 Calculation: First, to find Apple’s gross profit margin in recent fiscal year, we will use the formula P = R − C R Where, R is the company’s revenue and C is the cost of goods sold and given that Apple had revenues of $32

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Chapter 14.1, Problem 64ES

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What was Apple’s gross profit margin in recent fiscal year, express answer in percent, rounded to the nearest tenth of a percent

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Chapter 14.1, Problem 63ES

Chapter 14.1, Problem 65ES

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What was Apple’s gross profit margin in recent fiscal year, express answer in percent, rounded to the nearest tenth of a percent

Solution Summary: The author explains that Apple's gross profit margin in recent fiscal year is 0.3446, i.e. approximately 34.5%.

What was Apple’s gross profit margin in recent fiscal year, express answer in percent, rounded to the nearest tenth of a percent

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Chapter 14 Solutions