A Testing Bureau Reports That the Mean for the Population

question 12

Multiple Choice

A testing bureau reports that the mean for the population of Graduate Record Exam (GRE) scores is 500 with a standard deviation of 90. The scores are normally distributed. The proportion of scores that lie between 460 and 600 is _________.

• A) 0.4394
• B) 0.5365
• C) 0.4406
• D) 0.4635

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Definitions:

F.O.B. Shipping Point

F.O.B. shipping point is a term used in shipping agreements indicating that the buyer is responsible for the goods once the seller ships them, and must pay the shipping costs.

Freight

The charge paid for the transportation of goods, typically by sea, air, or land.

Title Passes

A legal term referring to the point at which the ownership of property, or title, is transferred from seller to buyer under the terms of a contract.

Merchandise Resale

The process of selling previously purchased goods to consumers, typically involving goods acquired from wholesalers or manufacturers.