Examlex
A study is under way in the Otway National Park to determine the mature height of Mountain Ash gum trees.Specifically,the study is attempting to determine what factors aid a tree in reaching heights greater than 60 metres tall.It is estimated that the park contains 25,000 mature Mountain Ash gum trees.The study involves collecting heights from 250 randomly selected mature Mountain Ash gum trees and analysing the results.
-Identify the population from which the study was sampled.
Break-Even Analysis
An evaluation to determine the point at which revenues and expenses are equal, and no net loss or gain is achieved.
Variable Costs
Costs that change in proportion to the level of activity or volume of output in a business, such as materials and labor costs.
Break-Even Point
The point at which total cost and total revenue are equal, meaning that the business makes neither a profit nor a loss.
Total Sales Revenue
The overall income generated from goods and services sold by a company before any costs or expenses are deducted.
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