Use the information below to answer the following question(s) .Big Sports University is planning to hold a fund raising banquet at one of the local country clubs.It has two options for the banquet:
1.Foothills Country Club
2.Downhill Country Club
Big Sports has budgeted $900 for administrative and marketing expenses.It plans to hire a band, which will cost another $400.Tickets are expected to be $40 per person.Any other items required for the event will be donated by its local business supporters.
-The break-even point in tickets sold of option two?
Definitions:
Covariance
A measure that demonstrates how two random variables move together, indicating the direction of their linear relationship.
Standard Deviation
A statistic that measures the dispersion or variability of a dataset relative to its mean, commonly used to quantify the risk associated with a security or investment portfolio.
Probability Distribution
A function providing a comprehensive list of values and corresponding probabilities for a random variable within a certain limit.
Expected Rate
The anticipated return on an investment, factoring in the probability of various outcomes.
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