The Weight of a Product Is Normally Distributed with a Mean

question 6

Multiple Choice

The weight of a product is normally distributed with a mean of 5 ounces. A randomly selected unit of this product weighs 7.1 ounces. The probability of a unit weighing more than 7.1 ounces is .0014. The production supervisor has lost files containing various pieces of information regarding this process, including the standard deviation. Determine the value of the standard deviation for this process.

• A) 1.67
• B) .70
• C) 2.10
• D) .50

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Definitions:

Income Statement

A financial report that outlines the revenues, expenses, and profits over a specific period, indicating the operational efficiency of a company.

Par Value

The nominal or face value of a bond, stock, or coupon as stated by the issuer, which does not necessarily match its market value.

Dividend Record

The date on which a company records the shareholders eligible to receive the declared dividend.

Financial Condition

It describes the overall state of a company's monetary resources, liabilities, and investment activities at a given time.