Question

victory gear made $2 billion worth of revenue this year. the total market for athletic wear is $8 billion. what is victory gears market share??%round to the nearest tenth of a percent.

Explanation:

Step1: Recall market share formula

Market share is calculated as \(\frac{\text{Company's Revenue}}{\text{Total Market Revenue}} \times 100\%\)

Step2: Substitute values

Company's revenue = \(\$2\) billion, Total market revenue = \(\$8\) billion. So, \(\frac{2}{8} \times 100\%\)

Step3: Calculate the fraction

\(\frac{2}{8}=0.25\)

Step4: Convert to percentage

\(0.25\times 100\% = 25.0\%\) (already to the nearest tenth of a percent)

Answer:

\(25.0\%\)