Francine Owns Her Own Widget Store

question 202

Multiple Choice

Francine owns her own widget store. She currently does not have enough money to hire anyone else, so she is the only employee. Francine purchased 1,500 widgets for her inventory at $1.50 per widget. In one month, she sold all her widgets for $3.00 each. That month her rent was $700 and utilities were $200. With just this information, Francine's total profit would be $________.

• A) 1,250
• B) 550
• C) 1,350
• D) 1,100
• E) -500

---

Definitions:

Automobile Manufacturer

A company engaged in the designing, production, marketing, and selling of motor vehicles.

Sample

A subset of individuals or observations selected from a larger population, used to infer or make predictions about the population.

Poisson Distribution

A probability distribution that measures the probability of a given number of events happening in a fixed interval of time or space when these events occur with a known constant mean rate and independently of the time since the last event.

P-Value Approach

A method in statistical hypothesis testing that uses the calculated probability to determine the significance of the observed data.