Owners Are Asked to Evaluate Their Experiences in Buying a New

question 93

Multiple Choice

Owners are asked to evaluate their experiences in buying a new car during the past twelve months.When surveys were analyzed the owners indicated they were most satisfied with their experiences at the following three dealers (in no particular order) : Saturn,Honda,and Buick. Assuming that each set of rankings is equally likely,what is the probability that
Owners ranked Saturn first?

• A)1/3
• B)1/6
• C)1/2
• D)5/6
• E)6/6

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Definitions:

Average Total Cost

The aggregate expense of manufacturing, including both fixed and variable costs, divided by the total number of units produced.

Marginal Cost

The price associated with manufacturing one more unit of a product or service.

Average Total Cost

The sum of all production expenses divided by the amount of goods produced.

Fixed Costs

Costs that do not vary with the level of production or services provided.