Which of the Following Is NOT a Property of the Normal

question 37

Multiple Choice

Which of the following is NOT a property of the normal probability distribution?

• A)symmetry
• B)the total area under the curve is always equal to 1
• C)99.7% of the time the random variable assumes a value within plus or minus one standard deviation of its mean
• D)the mean is equal to the median, which is also equal to the mode.
• E)none of the above

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Definitions:

Average Cost

A method of inventory valuation that calculates the cost of goods sold and ending inventory based on the average cost of all goods available for sale during the period.

Perpetual Inventory System

Definition: An accounting system that continuously updates inventory records for each purchase and sale transaction.

LIFO

Last In, First Out, an accounting method where the most recently produced items are recorded as sold first.

Ending Inventory

The valuation of goods available for sale at the end of an accounting period; part of the calculation of cost of goods sold.