Which of the Following About the Normal Distribution Is Not

question 139

Multiple Choice

Which of the following about the normal distribution is not true?

• A) About 2/3 of the observations fall within ±1 standard deviation from the mean.
• B) It is a discrete probability distribution.
• C) Its parameters are the mean, µ, and standard deviation, a.
• D) Theoretically, the mean, median, and mode are the same.

---

Definitions:

Competing Producers

Entities or companies that are in the same market striving to gain market share by offering better products, price, or services.

Perfect Competition

A market structure characterized by a large number of small firms, identical products, and freedom of entry and exit, leading to price takers.

Barriers To Entry

Economic, procedural, or regulatory obstacles that prevent or deter new competitors from easily entering an industry or area of business.

Absolute Market Power

The ability of a single economic actor, or a group of actors, to control market prices, output, and/or the market entry of new competitors without external interference.