Determine If the Outcome Is Unusual $\mu - 2 \sigma$ Or Greater Than

question 35

Multiple Choice

Determine if the outcome is unusual. Consider as unusual any result that differs from the mean by more than 2 standard deviations. That is, unusual values are either less than $\mu - 2 \sigma$ or greater than $\mu + 2 \sigma$ .
-The Acme Candy Company claims that 60% of the jawbreakers it produces weigh more than .4 ounces. Suppose that 800 jawbreakers are selected at random from the production lines. Would it be unusual for this sample of 800 to contain 463 jawbreakers that weigh more than .4 ounces?

• A)Yes
• B)No

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Definitions:

Innovation

The process of creating new products, processes, or ideas that bring value to society, businesses, or individuals.

Central Planning

An economic system where the government makes all decisions on the production and allocation of goods and services.

Economic Profitability

The difference between total revenue and total costs, including both explicit and implicit costs, indicating the financial success and viability of a venture.

Resource Allocation

The process of assigning available resources in the most efficient way to meet the objectives of an organization or economy.