During the Summer,Paul Sells Ice Creams from a Van in a Park

question 21

Multiple Choice

During the Summer,Paul sells ice creams from a van in a park at weekends.
His fixed costs for running the van are £200 per weekend.He buys ice cream ingredients from a wholesaler at a cost of 40p per ice cream,and sells them for £2.00 each.
If he wants to make a profit of £280,how many ice creams should he sell over the weekend?

• A) 175
• B) 300
• C) 125
• D) 140

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Definitions:

Margin of Error

A statistic expressing the amount of random sampling error in a survey's results, representing the range within which the true population parameter is likely to lie with a certain degree of confidence.

Variance

A statistical measure that tells us how much a set of numbers is spread out; it's the average of the squared differences from the Mean.

Confidence Interval

A range of values, determined from sample statistics, that is likely to contain the value of an unknown population parameter.

Standard Deviation

A gauge for the level of variability or disparity within a set of data points.