Assume That X Is Normally Distributed Random Variable with a Mean

question 88

Multiple Choice

Assume that x is normally distributed random variable with a mean of and a standard deviation of .15. Given this information and that P(x < 2.10) = .025, what is the value of ?

• A) 2.394
• B) 2.104
• C) 2.096
• D) 1.806
• E) 1.235

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Definitions:

Gross Profit Method

An inventory estimation technique that determines the cost of goods sold and ending inventory using the gross profit margin.

Gross Profit Method

A technique used for estimating inventory and cost of goods sold, calculated by applying a gross profit percentage to sales.

Retail Inventory Method

An accounting method used by retailers to estimate inventory value by converting retail prices to cost prices.