Find and Interpret the Area Under a Normal Curve

question 98

Multiple Choice

Find and Interpret the Area under a Normal Curve
-A physical fitness association is including the mile run in its secondary-school fitness test. The time for this event for boys in secondary school is known to possess a normal distribution with a mean of 460 seconds and a standard deviation of 60 seconds. Find the probability that a randomly selected boy in secondary school can run the mile in less than 322 seconds.

• A) 0.0107
• B) 0.4893
• C) 0.9893
• D) 0.5107

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Definitions:

Asset Approach

A valuation method that estimates a company's value based on the total value of its assets minus its liabilities.

Liability Approach

A method in accounting that emphasizes recording all financial liabilities at their current value to ensure accurate financial reporting.

Deferred Income Tax Asset

A financial statement item that refers to taxes that have been accrued but not yet paid, which is considered a company asset because it indicates future tax payments that are lower than the current tax expense.

Income Before Taxes

A financial measure indicating the profitability of a company before accounting for income taxes.