Since There Are Seven Days in a Week,there Is a 14

question 51

Multiple Choice

Since there are seven days in a week,there is a 14% chance that a meeting will be held on a Monday.This is an application of the ________ definition of probability.

• A)relative frequency
• B)classical
• C)subjective
• D)conditional

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Definitions:

Operating Expenses

Operating expenses are the costs associated with running a business’s core operations on a day-to-day basis, excluding the cost of goods sold.

Minimum Required Rate of Return

The minimum return on an investment that is deemed acceptable, based on the risk tolerance of an investor or a company.

Variable Cost per Unit

The cost associated with producing one unit of a product, which varies with the level of production or sales volume.

Annual Fixed Costs

The total fixed costs a company incurs over a year, which do not vary with the level of production or sales.