The Mean of a Normally Distributed Group of Weekly Incomes

question 117

Multiple Choice

The mean of a normally distributed group of weekly incomes for a group of executives is $2,400 and the standard deviation is $600.What is the z-score for an income of $1,500/week?

• A)-1.5
• B)-1.0
• C)2.5
• D)1.9

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Definitions:

Supply

The total amount of a product or service that is available to consumers.

Demand

The consumer's desire to purchase goods and services and willingness to pay a price for a specific good or service.

Cross Elasticity

A measure of how the quantity demanded of one good responds to a change in price of another good.

Dress Shirts

A type of shirt designed to be worn with formal attire, characterized by a collar, buttons, and long sleeves.