Use Technology to Solve the Following Problem: a Normal Population $\mu = 31$

question 59

Multiple Choice

Use technology to solve the following problem: A normal population has a mean $\mu = 31$ and standard deviation $\sigma = 7$ What is the probability that a randomly chosen value will be greater than 18?

• A) 0.9684
• B) 0.6386
• C) 0.9088
• D) 0.0316

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Definitions:

Perpetual Inventory

An inventory system that records changes in inventory levels immediately as they occur, facilitating real-time tracking of stock.

Financial Statements

Reports that summarize the financial condition and operations of a business, including balance sheet, income statement, and cash flow statement.

Net Realizable Value

The estimated selling price of goods, minus the costs of their completion and the costs required to make the sale, used in inventory valuation and accounts receivable.

Merchandise Value

The total worth of goods held for resale by a retail or wholesale business, typically assessed at cost or market price.