The Price of a Gallon of Milk Follows a Normal

question 217

Multiple Choice

The price of a gallon of milk follows a normal distribution with a mean of $3.20 and a standard deviation of $0.10. Find the price for which 12.3% of milk vendors exceeded.

• A) $3.316
• B) $3.084
• C) $3.238
• D) $3.215

---

Definitions:

New Product

A product that has been recently developed or introduced to the market.

Process

A series of actions or steps taken in order to achieve a particular end.

Private Owner

An individual or entity that exclusively owns the rights to a property, business, or asset, without governmental sharing or interference.

Prohibited

Forbidden by law, rules, or other forms of authority.