A Normal Distribution Has a Mean of µ = 100

question 76

Multiple Choice

A normal distribution has a mean of µ = 100 with σ = 20.If one score is randomly selected from this distribution,what is the probability that the score will have a value between X = 80 and X = 100?​

• A)​0.8413
• B)​0.1587
• C)​0.3413
• D)​0.6826

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Definitions:

Long-Run Supply Curve

A curve showing the relationship between the price of a good and the quantity supplied over a period long enough for firms to enter or exit the market.

Perfectly Elastic

Refers to a situation in economic theory where a small change in price leads to an infinite quantity demanded or supplied.

Increasing-Cost Industry

An industry in which the cost of production per unit increases as the total output of the industry increases, typically due to resource limitations or regulatory costs.

Consumer Demand

It refers to the desire of consumers to purchase goods and services, combined with their purchasing power, at a given price level and time.