The Mean of a Normal Probability Distribution Is 500 and the Standard

question 33

Multiple Choice

The mean of a normal probability distribution is 500 and the standard deviation is 10. About 95 percent of the observations lie between what two values?

• A) 475 and 525
• B) 480 and 520
• C) 400 and 600
• D) 350 and 650

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Definitions:

Value Chain

A value chain outlines the full range of activities required to bring a product or service from conception through to delivery and beyond, highlighting where value is added at each step.

Functional Strategies

Detailed plans laid out for each department or function within an organization, supporting the overall business strategy.

Supply Chain

A network of interconnected businesses involved in the ultimate provision of product and service packages required by end users.

Uncertainty

The lack of predictability or certainty in situations, often affecting decision-making in businesses and markets.