Final answer:
Sally earns a profit of $11.10 per necklace sold. The fraction of the sale price that is profit is approximately 11/18 or 0.62. Sally sold approximately 15 necklaces at a craft fair, earning a total profit of $166.50.
Step-by-step explanation:
To calculate the profit Sally earns when she sells a necklace, we first determine the total cost of materials and labor, which is $2.51 + $4.38 = $6.89. Then, we subtract this total cost from the sale price of $17.99 to find the profit: $17.99 - $6.89 = $11.10. So, Sally earns a profit of $11.10 per necklace.
(b) To find the fraction of the sale price that represents profit, we divide the profit by the sale price: $11.10 ÷ $17.99, which simplifies to approximately 11/18 or 0.6167, which is the fraction of the sale price that is profit.
(c) To convert the fraction of profit to a decimal of every dollar, we use the profit per necklace ($11.10) divided by the sale price ($17.99), which gives us approximately 0.6172. When rounded to the nearest hundredth, this becomes 0.62. So, Sally earns $0.62 in profit for every dollar of the sale price.
(d) To determine how many necklaces Sally sold to collect $269.85 at a craft fair, we divide the total amount she collected by the sale price of one necklace: $269.85 ÷ $17.99 which equals approximately 15 necklaces.
(e) To calculate the total profit from selling 15 necklaces, we multiply the profit per necklace by the number of necklaces sold: 15 × $11.10 = $166.50.