The Campus Bookstore Knows from the Past Several Semesters That

question 75

Multiple Choice

The campus bookstore knows from the past several semesters that a certain elementary statistics book has a demand that is approximated by a normal distribution with a mean of 250 and a standard deviation of 40.They buy these books for $105 each and sell them to unsuspecting undergraduates at $222 each.All demand for this book is realized by the middle of the semester, at which point the bookstore bundles them up and sells them to a vendor in another country for $40 each.What is the probability of sale for the last book that the bookstore should purchase for sale to a student?

• A)0.357
• B)0.412
• C)0.475
• D)0.525

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Definitions:

Other Expenses

Costs not directly related to production or operations, such as administrative and marketing expenses.

Containers Refurbished

The process of cleaning, repairing, and restoring used containers to a condition suitable for safe and efficient reuse.

Spending Variance

The difference between the actual amount of money spent and the budgeted or planned amount in a given period.

Budgeting

The process of creating a plan to spend your money, outlining proposed incomes and expenditures for a future period.