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As a graphic artist, Nate has just finished producing a new calendar. His calendar cost him $1.00 for the shiny paper, $2.00 for the six color production, and $.25 for the plastic wire that holds it together at the top. The labor in developing the design was 4 hours of work at $50/hour, and labor is being added to the rest of the fixed costs of $400.00. At a price of $12.00 per calendar, how many calendars will Nate need to produce and sell in order to break even (cover all his costs, but not make a profit) ?
Mean
The arithmetic average of a set of values, calculated by adding all the numbers together and dividing by the count of values.
Standard Deviation
A measure of the amount of variation or dispersion of a set of values, showing how much the values differ from the mean.
Mean
The average of a set of numerical values, calculated as the sum of the values divided by the number of values.
Mean
The arithmetic average of a set of numbers, calculated by adding them together and dividing by the number of quantities.
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