Find the Indicated Probability or Percentage for the Normally Distributed

question 15

Multiple Choice

Find the indicated probability or percentage for the normally distributed variable.
-The incomes of trainees at a local mill are normally distributed with a mean of $1,100 and a standard deviation $150. What percentage of trainees earn less than $900 a month?

• A)35.31%
• B)40.82%
• C)90.82%
• D)9.18%

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Definitions:

Fair Value

The sum received from selling an asset or paid to hand over a liability during a structured deal among participants in the market at the time of assessment.

Cost Method

An accounting technique used to value an investment, where the investment is recorded at its acquisition cost without adjustment for market changes.

Dividends

Payments made by a corporation to its shareholders, usually derived from the company's profits, representing a portion of the earnings allocated for distribution.

Net Income

The total profit of a company after all expenses, including taxes and operational costs, have been deducted from total revenue.