Use the information below to answer the following question(s) .The following information pertains to Payton's Shoe Manufacturing:
99,500 pairs of shoes are sold during the year for $18.
-What is Payton's manufacturing cost per pair of shoes?
Definitions:
Certification Test
An examination designed to certify competency, knowledge, or proficiency in a particular field or profession.
Multiplication Rule
A principle in probability that determines the likelihood of two independent events occurring together by multiplying their individual probabilities.
Probability
The measure of the likelihood that an event will occur.
Posterior Probability
The revised probability of an event occurring after taking into consideration new information.
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