Use Technology to Solve the Following Problem: a Bottler of Drinking

question 131

Multiple Choice

Use technology to solve the following problem: A bottler of drinking water fills plastic bottles with a mean volume of 1,002 milliliters (mL) and standard deviation 4 mL. The fill volumes are normally Distributed. What proportion of bottles have volumes less than 1,002 mL?

• A) 0.5517
• B) 1.0000
• C) 0.5000
• D) 0.9987

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Definitions:

Utility Function

An expression used in economics to quantify the happiness or satisfaction gained from consuming a set of goods or services.

Consumption Bundle

A combination of different goods and services that a consumer chooses to purchase at a given time.

Quasilinear Preferences

Preferences represented by utility functions where the marginal utility of consumption is constant irrespective of other goods consumed.

Indifference Curves

Graphical representations of different combinations of goods or services among which a consumer is indifferent, showing no preference for one combination over another.