The Diameter of an Electric Cable Is Normally Distributed, with a Mean

question 20

Short Answer

The diameter of an electric cable is normally distributed, with a mean of 0.8 inch and a standard deviation of 0.01 inch. What is the probability that the diameter will exceed 0.82 inch? Round your answer to four decimal places.
Standard Normal Distribution; z-scores

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Definitions:

Marginal Cost

The expense associated with manufacturing an extra unit of a product or service.

Variable Cost

Variable cost pertains to a cost that changes in proportion with the level of activity or volume of production in a company.

Average Fixed Cost

The fixed costs of production divided by the quantity of output produced, which decreases as production increases.

Law Of Diminishing Returns

An economic principle stating that if one factor of production is increased while others remain constant, the overall returns will eventually decrease after a certain point.