You purchase a cheese wheel at the grocery store for $15. The cheese wheel is made up of...

You purchase a cheese wheel at the grocery store for $15. The cheese wheel is made up of 32 ounces of cheddar and 32 ounces of Monterey jack, as shown.

Suppose you like cheddar cheese six times as much as Monterey jack cheese.

a. Determine your cheddar cheese to Monterey jack cheese preference ratio.

b. What fraction of the cheese wheel is the Monterey jack cheese?

c. Based on your cheese preference, what fraction of the value of the cheese wheel is the value of the Monterey jack cheese?

d. If you cut off a wedge containing 25 ounces of Monterey jack cheese, what dollar value would you place on the wedge?

e. What dollar value would you place on wedges II and IV?