Use the Following to Answer Questions

question 8

Short Answer

Use the following to answer questions :
The following data represent the ages of 15 people buying lift tickets at a ski area.
15 25 26 17 38 16 74 41 30 24 28 40 20 34 31
-What is the median of these data?

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Definitions:

Total Fixed Expenses

Total fixed expenses refer to the sum of all costs that do not change with the level of production or sales over a certain period.

Total Variable Expenses

The sum of all costs that vary directly with the level of production or sales volume over a specific period.

Degree of Operating Leverage

A financial metric that measures the sensitivity of a company's operating income to its sales volume.

Break-even Point

The level of production or sales at which total revenues equal total expenses, resulting in no net loss or gain.