What Z-Score Value Separates the Lowest 5% of a Normal

question 10

Multiple Choice

What z-score value separates the lowest 5% of a normal distribution from the highest 95%?

• A) -1.65
• B) +1.65
• C) -2.57
• D) +2.57

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Definitions:

Conversion

Conversion involves the process of transforming raw materials or inputs into finished products or outcomes in manufacturing and production contexts.

Weighted-Average Inventory Method

An inventory costing method that assigns a cost to inventory and cost of goods sold based on the average cost of all similar items in inventory.

Equivalent Units

A concept in cost accounting used to allocate costs to partially completed goods, converting them into full units of output for reporting purposes.

Work in Process Inventory

Items that are partway through their manufacturing process but have not yet reached their final form.