Suppose You Are Charged a $10 Per Month Base Charge

question 54

Multiple Choice

Suppose you are charged a $10 per month base charge for your electrical service.You are also charged an additional $0.08 for every kwh of electricity you use.The cost is an example of a

• A)Variable cost.
• B)Fixed cost.
• C)Mixed cost.
• D)Step cost.

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Definitions:

Data Set

A collection of related sets of information that is composed of separate elements but can be manipulated as a unit by a computer.

Median

A statistical measure representing the middle value in a set of numbers, which divides the data into two equal halves.

Mean

An average of a group of values, computed by dividing the sum of the group of values by the number of values in the group.

Frequency Distribution

A mathematical function showing the number of instances in which a variable attains each of its possible values.