Use the 68-95-99.7 Rule to Solve the Problem

question 245

Multiple Choice

Use the 68-95-99.7 rule to solve the problem.
-Scores on a test are normally distributed with a mean of 101 and a standard deviation of 20. What percentage of scores are greater than 161?

• A)99.85%
• B)99.7%
• C)0.3%
• D)0.15%

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Definitions:

Expected Revenue

The anticipated amount of money a business expects to receive over a certain period, usually as a result of sales or services.

Foreclosed

A legal process in which a lender takes control of a property after the borrower fails to meet the repayment terms of the loan.

Second-Bidder

Refers to the auction bidder with the second-highest bid, often relevant in Vickrey auctions where this bidder's price determines the sale price.

Vickrey Auction

A sealed-bid auction where the highest bidder wins but pays the second-highest bid, encouraging true value bids.