probability is about .95 that the 95% confidence interval will include the true population parameter. On the other hand, 2.5% of the time the highest value in the confidence interval will be smaller than the true value, while 2.5% of the time the smallest value in the confidence interval will be greater than the true value.
Just remember, low prices sell more quickly. When in doubt, go back to Step 1 and remind yourself WHY you are having a garage sale. Then, proceed with your pricing.Items sold for $1 sell much faster than those sold for $5 or more. For the best results, keep your prices in the $1 to $2 range.
Salesman are paid a commission based on the dealer's sales profit. The profit is typically defined as the difference between the selling price and the invoice price of the car. The most common car sales commission rates are 25 or 30 percent of the profit.So using a 25 percent commission plan, if a car sells for $1,000 over invoice, the salesman makes $250.ince the price a dealer actually pays for a car is a little less than the invoice price, the profit was probably $1,600 to $1,800 per car. This means that, using the AutoNation numbers, the average new car commission was $400 to $500.