An Apple Juice Producer Buys All His Apples from a Conglomerate

question 32

Multiple Choice

An apple juice producer buys all his apples from a conglomerate of apple growers in one northwestern state.The amount of juice squeezed from each of these apples is approximately normally distributed with a mean of 2.25 ounces and a standard deviation of 0.15 ounce.What is the probability that a randomly selected apple will contain between 2.00 and 3.00 ounces?

• A).0475
• B).4525
• C).9525
• D).9554

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Definitions:

Marginal Cost

The price associated with manufacturing one more unit of a product or service.

Average Total Cost

The sum of all production expenses divided by the amount of goods produced.

Fixed Costs

Costs that do not vary with the level of production or services provided.

Marginal Cost Curve

A graphical representation that shows how the marginal cost of producing additional units changes with the level of output.