$X$ Is a Normally Distributed Random Variable with a Mean of of 10

question 66

Multiple Choice

$X$ is a normally distributed random variable with a mean of 10 and a standard deviation of $4.0$ . Find the value of $X$ for which $70.54 \%$ of the area under the distribution curve lies right of it. (Note: the diagram is not necessarily to scale.)

• A) 8.92
• B) 7.84
• C) 11.89
• D) 8.56

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Definitions:

Perpetual Inventory System

A method of accounting for inventory that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.

Periodic Inventory System

An inventory accounting system that updates inventory levels and cost of goods sold at the end of an accounting period, rather than after each sale or purchase.

FIFO

"First In, First Out," an inventory valuation method where goods first received are the first to be sold or used, assuming costs rise over time.