Normally Distributed Observations Such as a Person's Weight, Height, or Shoe

question 38

Multiple Choice

Normally distributed observations such as a person's weight, height, or shoe size occur quite
Frequently in nature. Business people who are aware of this use it to their advantage. A purchasing
Agent for a large retailer buying 15,000 pairs of women's shoes used the normal curve to decide on
The order quantities for the various sizes. If women's average shoe size is 7.5 with a standard
Deviation of 1.5, how many pairs should be ordered between sizes 6.5 and 9?

• A) 8640
• B) 8849
• C) 8664
• D) 8864
• E) 8940

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Definitions:

Account Size

Account size refers to the total value or volume of assets held in an individual's or entity's investment or trading account.

Increase Borrowing

The act of obtaining more funds through loans, typically to support business operations or expansion.

Cash Cycle

The time between cash disbursement and cash collection.

Receivables Balance

The total amount of money owed to a company by its customers for goods or services delivered or used but not yet paid for.