North Dakota Mining (NDM) Describes Its Estimate of the Amount

question 96

Multiple Choice

North Dakota Mining (NDM) describes its estimate of the amount of oil it will produce next year from its western North Dakota operations with a normal distribution.The distribution is centered on 5.2 million barrels and has a standard deviation of .7 million barrels.According to this distribution, how likely is it that NDM's production will be between 5.5 and 6.5 million barrels?

• A).3577
• B).3997
• C).3022
• D).3508
• E).4049

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Definitions:

Break-even

The point at which total costs equal total revenues, resulting in no profit or loss.

Monthly Unit Sales

The quantity of units of a product sold within a month.

Break-even

The point at which total costs and total revenue are equal, meaning no profit or loss is generated, marking the threshold of profitability.

Monthly Dollar Sales

The total revenue generated from sales in a month, measured in dollars.