Which of the Following Statements Is True If the Standard

question 30

Multiple Choice

Which of the following statements is true if the standard deviation of a process is .02 and the average is 1?

• A) about 68.3% of the output will be within 1± .02
• B) the specification limits are ± .02
• C) the upper control limit is 1.02
• D) all the above are true
• E) none of the above is true

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Definitions:

Tax Revenue

The income that is gained by governments through taxation, which is used to fund public services, infrastructure, and government operations.

Marginal Rate Of Substitution

The rate at which a consumer is willing to trade one good for another while maintaining the same level of utility.

Marginal Rate Of Transformation

The rate at which one good must be sacrificed to produce one additional unit of another good, holding technology and resources constant.

Economic Outcome

The result of economic activities, often measured in terms of growth, employment, and inflation.