A Small Independent Organic Food Store Offers a Variety of Specialty

question 8

Multiple Choice

A small independent organic food store offers a variety of specialty coffees.To determine whether price has an impact on sales, the managers kept track of how many pounds of each variety of coffee were sold last month.

Based on the scatterplot, the linear relationship between number of pounds of coffee sold per week and price is ________________________ .

• A)strong and positive
• B)strong and negative
• C)weak and negative
• D)weak and positive
• E)nonexistent

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Definitions:

Return of Merchandise

This is when customers return purchased goods to the seller, usually due to defects, dissatisfaction, or the desire for an exchange or refund.

Perpetual Inventory System

An inventory management method that tracks the sale and purchase of inventory in real time to ensure accurate stock levels.

Payment on Account

A transaction that reduces the amount owed on an outstanding accounts payable balance.

Gross Profit

The financial metric that represents the difference between revenue and the cost of goods sold, before deducting overhead, payroll, taxation, and interest payments.