Jenny's Cutting Station Is a New Concept in Haircuts; Low

question 93

Multiple Choice

Jenny's Cutting Station is a new concept in haircuts; low cost and very quick.Set in a local mall,Jenny's offers 15 minute haircuts for harried shoppers who do not have time for lengthy appointments.To ensure that the clients are in and out quickly,she schedules her 5 employees based on expected client traffic.Each of the employees is paid $1,200 per month,with part of their pay coming from client tips.Jenny pays rent and overhead costs of $2,000 per month.Because of the quick nature of the service,Jenny doesn't have time to clean combs in between clients,so she uses a new comb for each customer,at a cost of $.55 each.She also provides shampoo and conditioner for each client at a cost of $.95 per client.The average price for a haircut is $12.Jenny pays herself $5,000 per month.What are Jenny's fixed costs for the month?

• A)$9,200.
• B)$13,000
• C)$11,000
• D)$8,000

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Definitions:

Continuous Random Variable

A variable that can take on an infinite number of values in a continuum.

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Continuous Random Variables

Continuous random variables are quantities that can assume an infinite number of values within a given range, often corresponding to measurements.