So Far This Season, the Average Combined Attendance for the Washington

question 18

Multiple Choice

So far this season, the average combined attendance for the Washington Nationals and Baltimore Orioles ranks fourth of the five major league markets with more than one team. Research done by the Washington Post shows attendance in the Baltimore-Washington region trails Los Angeles, New York, and San Francisco-Oakland, but is slightly ahead of Chicago. Which type of data would Major League Baseball be using if it used this research to determine how competition affects attendance figures?

• A)convenience
• B)primary
• C)observation
• D)secondary

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Definitions:

Absorption Costing

A method of inventory costing in which all costs of production (both fixed and variable) are treated as product costs.

Gross Margin

Gross margin is the difference between revenue and the cost of goods sold, divided by revenue, expressed as a percentage. It measures how much a company earns taking into consideration the costs that it incurs for producing its products or services.

Variable Costing

An accounting method that includes only variable costs—costs that change with production levels—in the calculation of cost of goods sold and excludes fixed costs.

Net Operating Income

The total earnings from a company's operations after deducting operating expenses but before interest and taxes.