Exhibit 6-10 A Professor at a Local University Noted That the Exam

question 91

Multiple Choice

Exhibit 6-10
A professor at a local university noted that the exam grades of her students were normally distributed with a mean of 73 and a standard deviation of 11.
-Refer to Exhibit 6-10. The professor has informed us that 7.93 percent of her students received grades of A. What is the minimum score needed to receive a grade of A?

• A)90.51
• B)93.2
• C)88.51
• D)100.00

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Definitions:

Payments

The act of transferring money or value from one party to another in exchange for goods, services, or to fulfill a legal obligation.

Years

Units of time measuring 365 days (or 366 in a leap year), often used to track age, duration, or periods of investment.

Effective Annual Rate

The interest rate on a loan or financial product restated on an annual basis, accounting for compounding over the term.

Compounded Continuously

The process of calculating interest on an investment or loan where the interest is reinvested and earns additional interest constantly over time.