Suppose the Population of All Public Universities Shows the Annual

question 43

Multiple Choice

Suppose the population of all public Universities shows the annual parking fee per student is normally distributed with a mean of $110 with a standard deviation of $18.If a random sample of size 49 is drawn from the population, the probability of drawing a sample with a sample mean between $112 and $115 is closest to _______.

• A)0.9738
• B)0.7777
• C)0.7823
• D)0.1915
• E)1.7561

---

Definitions:

Safety Inventory

Additional stock kept in reserve to protect against uncertainties in demand or supply, ensuring product availability.

Safety Inventory

Extra inventory held to guard against uncertainty in the demand or supply chain, ensuring that shortages are minimized.

Demand Uncertainty

The lack of predictability in consumer demand for products or services, making inventory or production planning challenging.

Coefficient Of Variation

A statistical measure of the relative dispersion of data points in a data series around the mean, expressed as a percentage.