Determine If the Outcome Is Unusual $\mu - 2 \sigma$ Or Greater Than

question 153

Multiple Choice

Determine if the outcome is unusual. Consider as unusual any result that differs from the mean by more than 2 standard
deviations. That is, unusual values are either less than $\mu - 2 \sigma$ or greater than $\mu + 2 \sigma$
-A survey for brand recognition is done and it is determined that 68% of consumers have heard of Dull Computer Company. A survey of 800 randomly selected consumers is to be conducted. For such groups of 800,
Would it be unusual to get 494 consumers who recognize the Dull Computer Company name?

• A) Yes
• B) No

Analyze and compare different savings and investment options including GICs, RRSPs, and loans.

Calculate the future value of investments with varying rates, terms, and compounding periods.

Determine the present value of a future amount considering the time value of money.

Understand the effect of inflation on the value of money and calculate the equivalent future or past value of an amount.

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Definitions:

High Expectations

Describes a state where there is an anticipation of excellence or high performance from oneself or others.

Halo Effect

A cognitive bias where an observer's overall impression of a person, company, or brand influences the observer's feelings and thoughts about that entity's character or properties.

Creative Problem Solving

A method that involves using imagination and innovation to find solutions to problems when traditional approaches don't work.

Performance Appraisal

A systematic evaluation of an employee's performance and productivity, typically conducted by their supervisor or manager.