guddo wrote:
A certain restaurant serves exactly 5 entrées—E1 through E5. Customers may order an entrée alone, but most customers order an entrée as part of a
combination meal, which consists of one entrée plus
extras—a side dish and drink. While the entrées vary in cost to the restaurant, the extras always have the same cost to the restaurant. The graph shows the actual cost to the restaurant for the entrée and the extras as a percent of the price charged for the meal.
Based on the information provided, select from each drop-down menu the option that creates the most accurate statement.
Of the five combination meals, the meal with entrée [Dropdown Placeholder #1] has the highest price.
Of the five combination meals, the sale of a single meal with entrée [Dropdown Placeholder #2] nets the least profit.
We are shown the cost to a restaurant as a percentage of meal price.
So if a meal price is $30, and cost to the restaurant for that meal is 70%, the cost to the restaurant for that meal will be $21 and the restaurant will make $9 profit on that meal. The $21 cost will be a sum of cost of entree (say $11) and a fixed cost of sides of $10.
Cost to restaurant of entrees are different but cost of 'extras' are always same (say $10 for all meal combinations). So assuming meal prices of combinations are E1, E2, E3, E4 and E5,
We know that 15% of E1 = 20% of E2 = 25% of E3 = 25% of E4 = 20% of E5 = Constant (price of extras i.e. $10)
Hence, E1 is highest. (because its 15% is equal to higher percentage of others)
Of the five combination meals, the meal with entrée ___ has the highest price.
ANSWER: E1Of the five combination meals, the sale of a single meal with entrée ___ nets the least profit.The least profit will be made by a meal with the smallest price and maximum cost. E3 and E4 have the same combination meal price since cost of sides is 25% of the price in both. But cost of entree is higher in E4. It is 40% of meal price. Hence profit in E4 will be lowest.
ANSWER: E4The question is an application of percentages:
https://youtu.be/HxnsYI1Rws8