Use the Following to Answer Questions

question 70

Short Answer

Use the following to answer questions :
You have just recorded the waiting times for a random sample of 50 customers who visited Elmo's Pizza Shop.The following table gives the frequency distribution of waiting times (in minutes)for these customers.

-The value of is:

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Definitions:

Selling Commission

A fee paid to a salesperson or agent for facilitating a sale, typically a percentage of the sale price.

Operating Leverage

A measure of how revenue growth translates into growth in operating income, indicating the proportion of fixed versus variable costs a company has.

Variable Expenses

Expenses that fluctuate with changes in production volume or business activity levels, including materials, labor, and utilities.

Contribution Margin

The difference between sales revenue and variable costs, used to cover fixed costs and contribute to profit.