In a Normal Distribution with a Standard Deviation of 8

question 11

Multiple Choice

In a normal distribution with a standard deviation of 8 , the number 25 has a standardized value of -2.5 . What is the 84^th percentile P₈₄ of this normal distribution?

• A) 45
• B) 53
• C) 62
• D) 84
• E) None of the above.

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Definitions:

Short Run

A time period in economics where at least one factor of production is fixed, limiting the immediate response of a firm to changes in market conditions.

Fixed Costs

Fixed costs are business expenses that remain constant regardless of the level of production or sales.

Average Variable Cost

The total variable cost divided by the quantity of output produced.

Output

The amount of goods or services produced by a company, sector, or economy.