Find the Z-Score Corresponding to the Given Value and Use

question 75

Multiple Choice

Find the z-score corresponding to the given value and use the z-score to determine whether the value is unusual. Consider a score to be unusual if it is at least three standard deviations above or Below the mean. Round the z-score to one decimal place, if necessary. A test score of 93.4 on a test having a mean of 73 and a standard deviation of 12.

• A)1.7; not unusual
• B)-1.7; not unusual
• C)1.7; unusual
• D)20.4; unusual

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Definitions:

Market Structure

The competitive environment characterizing a market, determined by the number of firms, product differentiation, and ease of entry and exit.

Agricultural Products

Goods derived from agriculture including crops, livestock, and products directly obtained from farming activities.

Wheat

Wheat is a cereal grain grown worldwide and is a staple food ingredient used for making bread, pasta, cake, and many other food products.

Pure Competition

A market format where there are many sellers presenting the same products, and none of these sellers are able to affect the market price on their own.