Refer to Scenario 9

question 164

Multiple Choice

Refer to Scenario 9.7 below to answer the question(s) that follow.
SCENARIO 9.7: Julio borrowed $80,000 from his great aunt to open a coffee stand at a local flea market. He agrees to pay his great aunt a 5% yearly return on the money she lent him. His other yearly fixed costs equal $16,000. His variable costs equal $60,000. He sold 50,000 cups of coffee during the year at a price of $3.00 per cup.
-Refer to Scenario 9.7. Julio's total revenue is

• A) $60,000.
• B) $80,000.
• C) $100,000.
• D) $150,000.

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Definitions:

N = 11

A statement indicating a sample size, or total number of observations, equals to eleven.

Critical Value

A threshold in statistics above or below which a statistical result is considered significant.

Dogs

Domesticated mammals known for their loyalty and companionship, classified in the species Canis lupus familiaris.

Hypotheses

Hypotheses are proposed explanations made on the basis of limited evidence as starting points for further investigation.