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Four employees who work as drive-through attendants at a local fast-food restaurant are being evaluated. As part of a quality improvement initiative and employee evaluation, these workers were observed over three days. One of the statistics collected was the proportion of time the employee forgot to include a napkin in the bag. Also recorded was the proportion of all dinners packed by each employee. Related information is given in the table. You just purchased a dinner and found that there is no napkin in your bag. What is the probability that Cheryl prepared your order?
Average Variable Cost
The total variable cost divided by the quantity of output produced; it measures the variable cost per unit of output.
Average Total Cost
The per unit cost of production, calculated by dividing the total costs by the quantity of output produced.
Profit-maximizing
A strategy or point at which a business makes the greatest financial gain, where marginal revenue equals marginal cost.
Total Revenue
The overall income generated by a business from its sales or services before any costs or expenses are subtracted.
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