Camp Funskies Has Annual Fixed Operating Costs of $150,000 and Variable

question 30

Multiple Choice

Camp Funskies has annual fixed operating costs of $150,000 and variable costs of $550 per camper. Total fees charged to campers amount to $500 each. The camp expects 350 campers next summer. Projected government grants are $95,000. How much must Camp Funskies raise from other sources to break even?

• A) $45,000
• B) $37,500
• C) $97,500
• D) $72,500

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Definitions:

IQ

A measure of a person's reasoning ability compared to the statistical norm or average for their age, taken to be an indicator of intelligence.

Mental Age

A concept used to describe a person's intellectual capability relative to their chronological age.

Terman

Lewis M. Terman, an American psychologist best known for his revision of the Stanford-Binet Intelligence Scales and research in intelligence testing.

Charles Spearman

A British psychologist who is best known for his work in statistics and psychology, particularly for his theory regarding the existence of a general intelligence factor, "g."