Historical Production Data Indicate That the Diameter of a Ball

question 42

Multiple Choice

Historical production data indicate that the diameter of a ball bearing is normally distributed with a mean of 0.525 cm and a standard deviation of 0.008 cm.Suppose that a sample of 16 ball bearings are randomly selected from a very large lot.Determine the probability that the average diameter of a sampled ball bearing is greater than 0.530 cm.

• A)0.2324
• B)0.4938
• C)0.5062
• D)0.0062

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Definitions:

Aggregate Supply Curve

A curve representing the relationship between the economy’s price level and real GDP supplied per period, with other things constant.

Aggregate Demand Curve

A curve that represents the total demand for goods and services in an economy at various price levels, assuming all other factors remain constant.

Price Level

An index reflecting the mean of current prices for a wide array of products and services in the economy.

Imported Raw Materials

Raw or unprocessed goods brought into a country from abroad for use in manufacturing or production.