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

question 79

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. $$\begin{array} { c | c } \text { Region } & \text { Price } \\\hline \mathrm { A } & \$ 7.86 \\\mathrm {~B} & \$ 6.85 \\\mathrm { C } & \$ 6.11 \\\mathrm { D } & \$ 5.98 \\\mathrm { E } & \$ 4.73 \\\mathrm {~F} & \$ 3.52 \\\mathrm { G } & \$ 3.29 \\\mathrm { H } & \$ 2.78 \\\mathrm {~K} & \$ 2.08 \\\mathrm {~L} & \$ 1.55\end{array}$$
The set of regions in which the average price for the new beverage is between $3.00 and $4.99.

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

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Definitions:

Contribution Margin

The amount remaining from sales revenue after variable expenses have been deducted, indicating how much revenue is available to cover fixed expenses and to contribute to profit.

Variable Administrative Expenses

Costs that vary in proportion to changes in an organization's activity level, such as sales commissions.

Sunk Cost

A cost that has already been incurred and cannot be recovered, and hence should not influence future business decisions.

Sunk Cost

Costs that have already been incurred and cannot be recovered or reversed.