A Group of Friends Enjoys Playing Miniature Golf Together

question 2

Multiple Choice

A group of friends enjoys playing miniature golf together. Here are a set of final scores
From a recent outing:
39, 41, 44, 50, 54, 56, 56, 56, 61
What is the median?

• A)54
• B)5
• C)3
• D)65

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Definitions:

Fixed Expenses

Costs that do not fluctuate with the volume of production or sales, such as rent, salaries, and insurance premiums.

Cost-Plus Methods

Methods of price setting determined by the cost amount per unit plus a markup based on the desired profit per unit.

Selling Price

The amount of money for which a product or service is sold to customers.

Markup

The amount added to the cost price of goods to cover overhead and profit, determining the selling price.