In a Recent Taste Testing Survey, It Was Found That

question 12

Essay

In a recent taste testing survey, it was found that 5/7 of all people surveyed preferred the taste of "A" chicken over "B" chicken. If 3,500 people were in the survey, how many favored "A"? What is the number of people who chose "B"?

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Definitions:

Target Margin

A predefined profit goal set by a company for a product, project, or the entire organization to achieve within a specific timeframe.

Target Price

Target price is the anticipated selling price of a product or service, set by a company, that reflects its market position and is intended to attract its identified target market.

Allowable Cost

This refers to the maximum cost that can be incurred on a project while still achieving the desired level of profit or meeting budget constraints.

Upstream Costs

Expenses incurred in the early stages of a product's life cycle, such as exploration and development costs in the oil and gas industry.