a business woman is planning to have a restaurant in the university belt she wants to study the weekly food allowance of the students in order to plan her pricing strategy for the different menus she is going to office she asked 213 the students and gather the following data. what percentage of the students have weekly food allowance that is at most 170 pesos. a. Determine the weekly food allowance where 60% of the students have at most. b. What percentage of the students have a weekly food allowance that is at most 170 pesos? c. If the business woman wanted to have at least 50% of the students could afford to eat in her restaurant, what should be the minimum total cost of the meals that the student could have in a week?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
a business woman is planning to have a restaurant in the university belt she wants to study the weekly food allowance of the students in order to plan her pricing strategy for the different menus she is going to office she asked 213 the students and gather the following data. what percentage of the students have weekly food allowance that is at most 170 pesos. a. Determine the weekly food allowance where 60% of the students have at most. b. What percentage of the students have a weekly food allowance that is at most 170 pesos? c. If the business woman wanted to have at least 50% of the students could afford to eat in her restaurant, what should be the minimum total cost of the meals that the student could have in a week?
A businesswoman is planning to have a restaurant in the university belit. She
wants to study the weekly food allowance of the atudents in order to plan her
pricing strtegy for the different menus she is going to offer. She asked 213
wtudents and gathered the following data:
Weekly
Weekly
Food
Frequency
Frequency
Food
Allowance
Allowance
550
3.
50
100
3.
600
18
150
6.
700
22
8.
750
800
170
16
200
8.
11
006
1000
250
27
300
1200
1500
350
3
400
450
11
1700
1
500
46
2000
a. Determine the weekiv food allowance where 60% of the students have at most
b. What percentage of the students have a weekly food allowance that is at mc
pesos?
c. If the business woman wanted to have at least 50% of the students could
eat in her restaurant, what should be the minimum total cost of the meals
student could have in a week?
Transcribed Image Text:A businesswoman is planning to have a restaurant in the university belit. She wants to study the weekly food allowance of the atudents in order to plan her pricing strtegy for the different menus she is going to offer. She asked 213 wtudents and gathered the following data: Weekly Weekly Food Frequency Frequency Food Allowance Allowance 550 3. 50 100 3. 600 18 150 6. 700 22 8. 750 800 170 16 200 8. 11 006 1000 250 27 300 1200 1500 350 3 400 450 11 1700 1 500 46 2000 a. Determine the weekiv food allowance where 60% of the students have at most b. What percentage of the students have a weekly food allowance that is at mc pesos? c. If the business woman wanted to have at least 50% of the students could eat in her restaurant, what should be the minimum total cost of the meals student could have in a week?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Relevant cost analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education