The True Length of Boards Cut at a Mill with a Listed

question 10

Short Answer

The true length of boards cut at a mill with a listed length of 10 feet is normally distributed with a mean of 123 inches and a standard deviation of 1 inch.What proportion of the boards will be less than 124 inches?

---

Definitions:

Portfolio

An assortment of financial assets including stocks, bonds, and commodities, as well as cash and near-cash items like mutual funds and ETFs.

Sharpe Ratio

Reward-to-volatility ratio; ratio of excess return to portfolio standard deviation.

Standard Deviation

Standard Deviation is a measure of the dispersion or variability of a set of data points or investment returns around the mean.

Returns

The profit or loss derived from an investment over a particular period, usually expressed as a percentage.