The Amount of Natural Gas That Taylor Exploration Extracts Daily

question 76

Multiple Choice

The amount of natural gas that Taylor Exploration extracts daily at its Cane Creek site in Utah has a normal distribution, with an average of 82,300 cubic feet and a standard deviation of 12,400 cubic feet.On a randomly selected day, how likely is it that less than 110,000 cubic feet are extracted?

• A).9871
• B).8974
• C).9443
• D).8257
• E).9028

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Definitions:

Compounded Semi-annually

The process of calculating interest on both the initial principal and the accumulated interest from previous periods, applied twice a year.

Amortization Period

Refers to the total time taken to pay off a debt in regular installments until the loan amount and interest are paid in full.

Compounded Semi-annually

The method of determining interest by adding it to both the original amount of money deposited or borrowed and the interest that has already been added over two periods within a year.

Amortization

The process of paying off a debt over time through regular payments.