Given That X Is a Normal Random Variable, the Probability

question 42

Multiple Choice

Given that X is a normal random variable, the probability that a given value of X is below its mean is ________.

• A) 1
• B) equal to .5
• C) less than .5
• D) greater than .5

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Definitions:

Excess Money

The surplus of cash beyond what is needed for immediate expenses or investments.

Price Level

The mean value of current prices for the economy's wide array of goods and services.

Price Level

An index reflecting the overall cost of commodities and services within an economy.

Inflation Rate

An economy's rate of escalation in prices for goods and services over a given period.