Find the Area of the Shaded Region

question 61

Multiple Choice

Find the area of the shaded region. The graph depicts the standard normal distribution with mean 0 and standard deviation 1.
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• A) 0.0301
• B) 0.9398
• C) 0.0602
• D) 0.9699

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Definitions:

Utility Function

An economic model that measures preferences over a set of goods and services.

Budget Constraint

An economic model that represents all the combinations of goods and services a consumer can purchase given their income and the prices of those goods and services.

Bundle

A collection of goods or services that are sold together.

Marginal Rate of Substitution

The rate at which a consumer is willing to give up some amount of one good in exchange for another good while keeping the same level of utility.