The Mean of a Normal Probability Distribution Is 500 and the Standard

question 94

Multiple Choice

The mean of a normal probability distribution is 500 and the standard deviation is 10. About 95
Percent of the observations lie between what two values?

• A) 475 and 525
• B) 480 and 520
• C) 400 and 600
• D) 350 and 650

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Definitions:

Government Prescribes

Refers to regulations or directives made by a government to influence or control certain activities.

Private Property

Land or belongings owned by individuals or corporations, distinct from property owned by the government or community.

Market System

This economic structure allows for the determination of investment, production, and distribution through the interplay of supply and demand, ensuring that the pricing of goods and services occurs in an open price system.