Solve the Problem The Set of Regions in Which the Average Price for Average

question 8

Multiple Choice

Solve the problem.
-Use the following table, which shows the average price for a new beverage that is served at a Coffee chain. Let the 10 selected regions represent the universal set. Use the list to represent the set In roster form. $$\begin{array} { c | c } \text { Region } & \text { Price } \\\hline \mathrm { A } & \$ 7.76 \\\mathrm {~B} & \$ 6.53 \\\mathrm { C } & \$ 6.46 \\\mathrm { D } & \$ 5.87 \\\mathrm { E } & \$ 4.12 \\\mathrm {~F} & \$ 3.56 \\\mathrm { G } & \$ 3.03 \\\mathrm { H } & \$ 2.60 \\\mathrm {~K} & \$ 2.38 \\\mathrm {~L} & \$ 1.75\end{array}$$
The set of regions in which the average price for the new beverage is less than $3.50.

• A) {H, K, L}
• B) {F, G, H, K, L}
• C) {G, H, K, L}
• D) {A, B, C, D, E, F}

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Definitions:

Purchasing Power Parity

An economic theory that compares different countries' currencies through a "basket of goods" approach to determine their relative value.

Exchange Rate

The exchange value of one currency against another.

Identical Basket

A concept used in economics to compare the cost of a specific set of goods and services across different geographical locations or time periods.

Purchasing Power Parity

An economic theory that compares different countries' currencies through a "basket of goods" approach to assess their purchasing power.