Consider Each of the Following Independent Situations $\$ 200$ Plus $\$ 0.07$

question 106

Essay

Consider each of the following independent situations.
Required: For each situation,describe the cost as one of the following: fixed cost,variable cost,mixed cost,or step cost.
A. The sal ary of a legal secretary in a law firm
B. A lease contract for a truck that requires a monthly payment of $\$ 200$ plus $\$ 0.07$ per
kilometre
C. The cost of lumber for a homebuilder
D. The cost of internet service that is calculated based on hours of usage
E. The cost of cell phone contract that includes a fixed monthly charge of $\$ 90$ plus $\$ .05$ a minute for long-distance calls
F. The sal ary cost of seasonal tax preparers for a CPA firm. One tax preparer can prepare 100 tax returns per month
G. A factory supervisor's salary
H. The cost of sugar in the production of soft drinks

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Definitions:

Normal Distribution

A probability distribution that is symmetric around the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Continuous Random Variable

A random variable that may assume any numerical value in an interval or collection of intervals.

Standard Normal Distribution

The Standard Normal Distribution is a normal distribution with a mean of 0 and a standard deviation of 1, used in statistical analysis for z-scores.

Z Score

A statistical measurement that describes a value's relationship to the mean of a group of values, measured in terms of standard deviations from the mean.