Exhibit 2-1 The Numbers of Hours Worked (Per Week)by 400 Statistics Students

question 45

Multiple Choice

Exhibit 2-1
The numbers of hours worked (per week) by 400 statistics students are shown below.

-Refer to Exhibit 2-1.The midpoint of the last class is

• A)50
• B)34
• C)35
• D)34.5

Identify the elements of the marketing mix and understand their significance.

Differentiate between needs, wants, and demands in marketing terminology.

Recognize the role of distribution (place) in the marketing mix.

Understand how promotion is utilized within the marketing mix.

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Definitions:

Occupancy Expenses

Expenses associated with the use of a physical location, including lease payments, utility bills, and taxes on the property.

Spending Variance

The difference between the actual amount spent and the budgeted amount planned to be spent in a given period.

Materials Quantity Variance

The difference between the actual quantity of materials used in production and the standard amount expected, multiplied by the standard cost per unit.

Food And Supplies

Items necessary for operating a business, such as a restaurant or hotel, including both edible products and necessary materials.