Both SAT and ACT Are Well-Known Placement Tests That Most

question 11

Multiple Choice

Both SAT and ACT are well-known placement tests that most US colleges require from prospective students to be admitted in their programs.Scores in the SAT test are
Approximately normally distributed with a mean of 500 and a standard deviation of 100.
Scores in the ACT test are approximately normally distributed with a mean of 18 and a
Standard deviation of 6.What would be the score in the SAT test to get the same z-score as
The admission requirement of an ACT score of 27?

• A)500
• B)550
• C)600
• D)650
• E)700

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Definitions:

Cost-plus Pricing

A pricing strategy where the selling price is determined by adding a specific markup to a product's unit cost.

Selling and Administrative Expenses

These are the combined costs associated with the general operations of a business that are not directly tied to producing goods or services, including expenses like salaries, rent, and utilities.

Intermediate Calculations

Steps in the analytical process that involve manipulating basic data to derive more meaningful information.

Absorption Costing

An accounting method that includes all manufacturing costs, both variable and fixed, in the cost of a product.