Data for a Particular Subdivision near Downtown Houston Indicate That

question 98

Multiple Choice

Data for a particular subdivision near downtown Houston indicate that the average price per square foot for a home is $100 with a standard deviation of $5 (normally distributed) .What is the probability that the average price per square foot for a home is greater than $90?

• A)0
• B)0.023
• C)0.159
• D)0.977
• E)None of the above

---

Definitions:

Cash Receipts

Money received by a business, often recorded in the period it is received.

Cash Sales

Revenue received from transactions where payment is made immediately in cash.

Collections

The process of pursuing and receiving payments on outstanding accounts receivable from customers.

Payments

The act of transferring money or money's worth from one party to another as a settlement for a transaction or an obligation.