Solve the Problem

question 81

Multiple Choice

Solve the problem. Round to the nearest tenth unless indicated otherwise.
-The weights of certain machine components are normally distributed with a mean of 8.01 g and a standard deviation of 0.06 g. Find the two weights that separate the top 3% and the bottom 3%. These weights could serve
As limits used to identify which components should be rejected. Round to the nearest hundredth of a gram.

• A) 7.90 g and 8.12 g
• B) 7.98 g and 8.04 g
• C) 7.88 g and 8.17 g
• D) 8.00 g and 8.02 g

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Definitions:

ATC

ATC, or average total cost, is the sum of all production costs divided by the quantity of output produced, encompassing both fixed and variable costs.

MC

Stands for Marginal Cost, which is the change in total cost that arises when the quantity produced is incremented by one unit; it is a key concept in economic theory guiding decision-making on the optimal level of production.

Marginal Cost Curve

A graphical representation showing how the cost of producing one more unit of a good changes as production volume changes.

Demand Curve

A visual depiction that illustrates the correlation between a product or service's price and the amount consumers are willing to purchase at different price points.