Use the Following Information to Answer the Question

question 4

Multiple Choice

Use the following information to answer the question. The economic impact of an industry, such as sport fishing, can be measured by the retail sales it generates. In 2006, the economic impact of great lakes fishing in states bordering the great lakes had a mean of $318 and a standard deviation of $83.5. Note that all dollar amounts are in millions of dollars. Assume the distribution of retail sales is unimodal and symmetric. (Source: National Oceanic and Atmospheric Administration) .
-For what percentage of great lakes states would you expect the economic impact from fishing to be between $234.5 and $401.5 (in millions of dollars) ?

• A)68%
• B)Nearly all
• C)95%
• D)None of these

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Definitions:

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a snapshot of its financial condition.

Donated Materials

Items or supplies given to an organization for free, often recognized as income at their fair value in the period received and reported in the financial statements.

Deferral Method

An accounting method where certain revenues or expenses are deferred on the balance sheet until they can be realized in the income statement.

Not-for-profit Organization

An organization that operates for purposes other than generating profit, typically focusing on social, educational, or charitable objectives.