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TABLE 7-7
Online customer service is a key element to successful online retailing. According to a marketing survey, 37.5% of online customers take advantage of the online customer service. Random samples of 200 customers are selected.
-Referring to Table 7-7, ________ % of the samples are likely to have between 35% and 40% who take advantage of online customer service.
Average Total Costs
The total cost of production divided by the total quantity produced, representing the average cost per unit.
Total Fixed Costs
The sum of all costs associated with the production of goods or services that do not change with the level of output, such as rent, salaries, and equipment maintenance.
Fixed Costs
Fixed costs are business expenses that remain constant irrespective of the level of goods or services produced, such as rent, salaries, or loan payments.
Output
The total amount of goods and services produced by a firm or country.
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