Assume a Data Set Is Normally Distributed with Mean 14

question 26

Multiple Choice

Assume a data set is normally distributed with mean 14 and standard deviation 1.5. If the data set contains 30 data values, approximately how many of the data values will fall within the range 12.5 to 15.5?

• A) 13
• B) 20
• C) 29
• D) 10

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Definitions:

Network Effects

The phenomenon whereby increased numbers of people or participants improve the value of a good or service.

Economies Of Scale

The benefit that larger operations have, which allows them to produce goods or services at a lower unit cost as production scales up.

Demand Schedule

A table that shows the quantity of a good or service that consumers wish to buy at various prices.

Total Revenue

The sum of money a company earns from selling products or offering services over a specific time frame.