A Group of 100 Students Was Surveyed About Their Interest

question 16

Multiple Choice

A group of 100 students was surveyed about their interest in a new International Studies program. Interest was measured in terms of high, medium, or low. In the study, 30 students responded high interest, 40 students responded medium interest, and 30 students responded low interest. What is the relative frequency of students with high interest?

• A) .30
• B) .50
• C) .40
• D) .030

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Definitions:

Break-Even Quantity

The number of units that must be sold to cover all fixed and variable costs, resulting in neither profit nor loss.

Break-Even Quantity

The number of units that must be sold for total revenues to equal total costs, resulting in no profit or loss.

Fixed Costs

Business expenses that remain constant regardless of the level of production or sales activities.

Marginal Cost

The additional cost incurred by producing one more unit of a particular good or service.