Assume a Data Set Is Normally Distributed with Mean 17

question 54

Multiple Choice

Assume a data set is normally distributed with mean 17 and standard deviation 1.5. If the data set
Contains 40 data values, approximately how many of the data values will fall within the range 15.5
To 18.5?

• A)27
• B)12
• C)38
• D)16

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Definitions:

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable.

Tax Imposition

The act of placing a financial charge or levy upon a taxpayer by a governmental organization.

Buyers

Individuals or entities that purchase goods or services from sellers in exchange for money or other valuable considerations.

Sellers

Individuals or entities that offer goods or services for sale to potential buyers.