Information on the 30 Major League Baseball Teams for the 2003

question 92

Multiple Choice

Information on the 30 Major League Baseball teams for the 2003 season has been summarized based on game attendance. What is the probability that if a team is selected at random, it had a winning season or attendance of more than 3.0 million?

• A) 18/30
• B) 19/30
• C) 13/30
• D) 9/30
• E) 12/30

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Definitions:

Variable Cost

Expenses that change in proportion to the activity of a business, such as cost of goods sold or materials costs.

Fixed Cost

Costs that do not vary with the level of output or production, such as rent, salaries, and insurance premiums.

Activity Level

A measure of the volume of production or operations, often used to plan and control various business activities.

Period Costs

Expenses that are not directly tied to the production of goods and are expensed in the period in which they are incurred.