THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 173

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Starting with a sample of two values 70 and 100,add three data values to your sample to obtain a new sample with certain statistics.
-What are the three data values such that the new sample has a mode of 87? Justify your answer.

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Definitions:

Fixed Costs

These are expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.

Required Return

The minimum rate of return an investor expects to achieve by investing in a particular asset.

Initial Investment

The upfront sum of money required to start a project, purchase an asset, or invest in a business venture.

Cash Break-even Point

The cash break-even point is the level of output or sales at which a business generates enough revenue to cover its operating cash expenses, without necessarily making a profit.