Phi Kappa Is Planning to Hold a Seminar for Students

question 112

Multiple Choice

Phi Kappa is planning to hold a seminar for students at the University Centre.It has two options: OPTION 1: Fixed rental cost of $1,000 and $12 per person for books
Or
OPTION 2: Fixed rental cost of $3,000 and $8 per person for books
Tickets will be $5 per student.Other items will be donated by recruiters wishing to network with students.Which option will cause the biggest loss if very few students attend?

• A)Option 1
• B)Option 2
• C)Both options provide the same amount of risk.
• D)Neither option has risks.

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Definitions:

Realistic

Pertaining to the acceptance and representation of things as they truly are, emphasizing practical and factual views over imagination or speculation.

Empathy

The ability to understand and share the feelings of another person from their perspective.

Concrete Thinking

Involves focusing on the physical world and the direct experience, rather than abstract or hypothetical concepts.

Industry

The economic activity concerned with the processing of raw materials and manufacture of goods in factories.