During a volleyball game, the snack bar has put up a combo of wings, fries and soda for sale at a price of $ 6.75. The owner records that he has a production cost in the premises of yc = $ 2.95x + $ 627. 1. Find the balance point. 2. If it is known that at least 200 combos will be sold, what should the price be set to ensure there are no losses?
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
During a volleyball game, the snack bar has put up a combo of wings, fries and soda for sale at a price of $ 6.75. The owner records that he has a production cost in the premises of yc = $ 2.95x + $ 627.
1. Find the balance point.
2. If it is known that at least 200 combos will be sold, what should the price be set to ensure there are no losses?
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