Solve the Problem $$\begin{array} { l l l l } 32.99 & 24.95 & 26.95 & 28.95 \\18.95 & 28.99 & 30.95 & 22.95 \\24.95 & 26.95 & 29.95 & 28.95\end{array}$$

question 25

Multiple Choice

Solve the problem.
-Fred, a local mechanic, recorded the price of an oil and filter change at twelve competing service stations. The prices (in dollars) are shown below. $$\begin{array} { l l l l } 32.99 & 24.95 & 26.95 & 28.95 \\18.95 & 28.99 & 30.95 & 22.95 \\24.95 & 26.95 & 29.95 & 28.95\end{array}$$

• A) $10.05
• B) $12.00
• C) $14.04
• D) $32.99

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Definitions:

Planning Budget

A budget created at the beginning of a period, based on forecasted levels of activity, to guide business operations and financial planning.

Total Expenses

encompass all costs incurred by a business or individual within a specified period, including operational, financial, and non-operational expenses.

Planning Budget

An estimate of income and expenditure for a set period, often used to guide financial decision-making and control.

Total Cost

The complete cost of production, including both fixed and variable expenses.