X Is a Normally Distributed Random Variable with a Mean

question 79

Multiple Choice

X is a normally distributed random variable with a mean of 12 and a standard deviation of 3. The probability that X equals 19.62 is

• A)0.000
• B)0.0055
• C)0.4945
• D)0.9945

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, resulting in a market balance.

Asymmetric Information

Asymmetric information occurs when one party in a transaction has more or better information than the other, potentially leading to an imbalance in the transaction.

Market Transaction

An exchange of goods, services, or financial assets in return for money between parties within a marketplace.