A Large Disaster Cleaning Company Estimates That 30 Percent of the Jobs

question 38

Multiple Choice

A large disaster cleaning company estimates that 30 percent of the jobs it bids on are finished within the bid time.Looking at a random sample of 8 jobs that it has contracted,find the probability that x (number of jobs finished on time) is within one standard deviation of the mean.

• A).6867
• B).7483
• C).5506
• D).8844

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Definitions:

Money Neutral

The principle that changes in the money supply only affect nominal variables and not real variables like output in the long run.

Favorable Supply Shock

An unexpected event that increases the supply of a product or service, leading to lower prices and benefiting consumers.

Price Level

A measure of the average prices of goods and services in an economy.

Central Bank

A national bank that provides financial and banking services for its country's government and commercial banking system and implements monetary policy.