True or False: the Amount of Bleach a Machine Pours

question 20

True/False

True or False: The amount of bleach a machine pours into bottles has a mean of 36 oz.with a
standard deviation of 0.15 oz.Suppose we take a random sample of 36 bottles filled by this
machine.The sampling distribution of the sample mean will be approximately normal only if the
population sampled is normal.

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Definitions:

Marginal Cost

The financial outlay for producing a further unit of a product or service.

Perfectly Competitive Firm

A business that operates in a market where there are many buyers and sellers, each selling identical products, and no single buyer or seller can influence market prices.

Short Run

In economics, it denotes a period in which at least one input (e.g., capital) is fixed and cannot be altered.

Economic Profit

The total revenue of a business minus its explicit and implicit costs; a measure of profitability that includes opportunity costs.