If $\mathrm { X }$ Is a Normal Random Variable with Standard Deviation

question 6

Multiple Choice

If $\mathrm { X }$ is a normal random variable with standard deviation $2.50$ , and if the probability that $\mathrm { X }$ is more than $5.95$ is .1271 (as shown below) , then what is the mean of $X$ ? (Note: the diagram is not necessarily to scale)

• A) 5.8
• B) 5.0
• C) 4.7
• D) 3.1

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Definitions:

Competitive Process

The dynamic system in which businesses compete with one another for resources, customers, and market share.

Cost Advantages

Refers to the benefit a company has over its competitors in terms of lower production or operation costs.

Monopoly Power

The ability of a single firm or entity to control the market for a good or service, enabling it to influence prices and production levels.

Legal Barriers

Restrictions imposed by law that limit the entry of new firms into an industry or protect existing firms from competition.