The Organization of the Girl Sprouts Has Completed Its Annual

question 14

Multiple Choice

The organization of the Girl Sprouts has completed its annual cookie drive. The sales are reported in the accompanying ogive. Approximate the percentage of girls who sold less than 90 boxes of cookies.

• A) 45%
• B) 55%
• C) 65%
• D) 75%

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Definitions:

Labor Cost

The total expenditure incurred by a company to pay its employees, including wages, benefits, and taxes.

Total Cost Ratio

Represents the sum of all costs (fixed and variable) associated with production, expressed as a ratio over a specific period.

Elasticity

An economic measure of the responsiveness of the quantity demanded or supplied of a good or service to changes in its price or consumer income.

Unit Wages

The cost of labor per unit of output, measuring how much is paid in wages for the production of one unit of a good or service.