Wombat World Is a Small Zoo Displaying Native Animals

question 33

Multiple Choice

Wombat World is a small zoo displaying native animals. The entrance fee is $15 per person. Variable costs of running the zoo are $8 per visitor and fixed costs are $200,000 per annum. The number of visitors that would be needed to make a profit of $20,000 per annum is:

• A)1,333.
• B)31,429.
• C)14,667.
• D)27,500.

---

Definitions:

Extreme Values

Refers to the maximum and minimum values in a given data set, indicating the range's limits.

Range

The difference between the highest and lowest values in a data set, indicating its spread.

Coefficient of Variation

A metric that quantifies the spread of data points around the mean within a dataset, represented as a percentage of the mean itself.

Variance

A statistical measure of the dispersion of a set of data points in a data distribution, showing how each data point differs from the mean.