The State Department of Forests Has Determined That Annual Tree

question 79

True/False

The State Department of Forests has determined that annual tree growth in a particular forest area is normally distributed with a mean equal to 17 inches and a standard deviation equal to 6 inches. If 2 trees are randomly chosen, the probability that both trees will have grown more than 20 inches during the year is approximately .037.

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Definitions:

Transfer Price

The price at which goods or services are sold between divisions within the same company.

Variable Cost

Expenses that vary directly with the level of production or sales volume, such as raw materials and labor.

Transfer Price

The price at which goods and services are traded between departments or subsidiaries within the same organization.

Variable Cost

Costs that vary directly with the level of production or sales volume, such as materials and labor, in contrast to fixed costs which remain constant regardless of production level.