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Use the following to answer question: Use the following to answer question:   -(Table: Cakes) Use Table: Cakes.Pat is opening a bakery to make and sell special birthday cakes.She is trying to decide how many mixers to purchase.Her estimated fixed and average variable costs if she purchases 1,2,or 3 mixers are shown in the table.Assume that average variable costs do not vary with the quantity of output.If Pat purchases 3 mixers and bakes 200 cakes per day,what is her average fixed cost? A) $0.05 B) $2.50 C) $5.00 D) $12.50
-(Table: Cakes) Use Table: Cakes.Pat is opening a bakery to make and sell special birthday cakes.She is trying to decide how many mixers to purchase.Her estimated fixed and average variable costs if she purchases 1,2,or 3 mixers are shown in the table.Assume that average variable costs do not vary with the quantity of output.If Pat purchases 3 mixers and bakes 200 cakes per day,what is her average fixed cost?


Definitions:

Independent Events

Two or more events where the occurrence of one does not affect the probability of occurrence of the others.

Independent Events

Independent events are two or more events whose outcomes do not influence each other, meaning the occurrence of one event does not affect the probability of the other.

Mutually Exclusive Events

Two or more events that cannot occur at the same time in any given experiment or real-life situation.

Conditional Probability

The probability of one event occurring with some relationship to one or more other events.

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