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Find the probability.
-The chart below gives the cost and number of vehicle tags sold in each city. One car is selected at random from the cars with vehicle tags from these cities. What is the Probability that this car has a vehicle tag that cost less than $10? Round to the nearest Ten-thousandth when necessary.
Fixed Expenses
Costs that do not change with the level of production or sales, such as rent and salaries.
Absorption Costing
A technique in accounting where all expenses from manufacturing, covering direct materials, direct labor, and overhead expenses variable and fixed, are included in the cost of a product.
Direct Materials
Raw materials that can be directly traced to the production of finished goods.
Fixed Costs
Expenses that do not change in total despite fluctuations in production levels or sales volume.
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