In this situation, we want to determine the domain and range of the function that represents the cost of renting the venue based on the number of hours it is rented.
The function is defined by:
- Renting the venue for 1 hour costs $275,
- Renting it for 2 hours costs $550,
- Renting it for 3 hours costs $825.
Domain: The possible values for the number of hours the venue can be rented are 1, 2, and 3. So, the domain is {1, 2, 3}.
Range: Based on the costs associated with these hours:
- For 1 hour, the cost is $275,
- For 2 hours, the cost is $550,
- For 3 hours, the cost is $825.
Thus, the range of the function is {275, 550, 825}.
Therefore, the correct answer is: B. Domain: {1, 2, 3} Range: {275, 550, 825}