The Owner of a Fish Market Determined That the Average

question 164

Multiple Choice

The owner of a fish market determined that the average weight for a catfish is 3.4 pounds with a standard deviation of 0.8 of a pound.A citation catfish should be one of the top 2% in weight.Assuming the weights of catfish are normally distributed,at what weight (in pounds) should the citation designation be established?

• A)1.65 pounds
• B)5.04 pounds
• C)5.42 pounds
• D)6.76 pounds

---

Definitions:

Collection Float

The time delay between when a check is written and when it is actually deducted from the payer's account, impacting the receiver's cash flow.

Disbursement Float

The time delay between when a check is issued and when the funds are actually withdrawn from the payer's account.

Ledger Balance

The total amount recorded in a company's ledger, representing the total assets, liabilities, and shareholders' equity at a specific time.

Available Balance

The amount of money in an account that is accessible for use.