Suppose That the Distribution of Weekly Water Usage for Single-Family

question 25

Multiple Choice

Suppose that the distribution of weekly water usage for single-family homes in a particular city is mound shaped and approximately symmetric. The mean is 1,300 gallons, and the standard deviation is 200 gallons. ​
What is the approximate value of the 98th percentile?
​

• A)1,700 gallons
• B)1,100 gallons
• C)1,500 gallons
• D)1,900 gallons
• E)1,300 gallons

---

Definitions:

Contribution Margin

Contribution margin is the amount of revenue remaining after deducting the variable costs of producing a product, indicating how much contributes to covering fixed costs and generating profit.

Variable Costs

Costs that fluctuate based on the level of a business’s activity.

Total Direct Labor Cost

The total expenses incurred from labor directly involved in the production of goods or services.

Per-unit Cost

The cost associated with producing or acquiring a single unit of a product or service.