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A yield test is done on three beef rounds. The as-purchased (AP) and edible portion (Ep) data is shown below:AP (Original) Weight EP (Servable) Weightround #1 19 lb 12 oz 16 lb 2 ozround #2 21 lb 13 oz 171b 15 ozround #3 20 lb 9 oz 16 lb 14 oz1. What is the yield ratio (ratio of servable weight to original weight) for each round?2. What do the percentage numbers generated in the above calculations mean?3. What is the average yield ratio (ratio of servable weight to original weight) for the three rounds calculated above?4. What is the cost per servable pound for each of the above rounds if the purchase (AP) cost is $6.15 per pound?5. What do the costs per servable pound for the three rounds in question 4 actually represent?6. What is the average cost per servable pound in question 4?7. How many pounds of round must be purchased to serve five ounces (edible portion-on the plate) to 300 guests using the average yield ratio calculated in question 3?8. How many rounds must be purchased to prepare the required number of portions needed for the banquet?
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