The Amount Spent on Textbooks for the Fall Term Was

question 173

Multiple Choice

The amount spent on textbooks for the fall term was recorded for a sample of five hundred university students. The mean expenditure was calculated to be $500 and the standard deviation of
The expenditures was calculated to be $100. Suppose a randomly selected student reported that
Their textbook expenditure was $700. Calculate the z-score for this studentʹs textbook expenditure.

• A)-3
• B)+2
• C)+3
• D)-2

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Definitions:

Producing Departments

Departments or divisions within an organization directly involved in producing the goods or services offered to customers.

Fixed Costs

Costs that do not change with the level of production or sales activity within a certain range and period, such as rent, salaries, and insurance.

Cafeteria

A type of food service location within an institution where customers serve themselves from a variety of dishes made available.

Transfer Prices

Prices used for the sale or transfer of goods and services between departments or divisions within the same company.