Suppose That IQ Scores Are Normally Distributed with a Mean

question 1

Essay

Suppose that IQ scores are normally distributed with a mean of 100 and a standard deviation of 15.
a.Suppose that 1000 individuals took the IQ examination.Use Crystal Ball to simulate their scores.
b.What is the mean of the simulated IQ scores?
c.Suppose that being in the top 2% qualifies an individual as a genius.Using the simulated IQ scores,what should the IQ score be to qualify as a genius?

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Definitions:

Hybrid Strategies

Business methods that combine elements of both cost leadership and differentiation strategies to achieve competitive advantage.

Differentiation

The process of distinguishing a product or brand from its competitors through unique characteristics, aiming to create a perceived value to encourage customer preference.

Cost Leadership

A business strategy focused on becoming the lowest cost producer in an industry to offer products or services at the most competitive price.

Generic Marketing Strategies

Broad approaches to marketing that can be applied across different industries and markets, often centered around the concepts of cost leadership, differentiation, or focus.