The Empirical Rule States That for a Bell-Shaped Distribution, Approximately

question 81

Multiple Choice

The Empirical Rule states that for a bell-shaped distribution, approximately 95 percent of data should lie within:

• A) one standard deviation from either side of the mean.
• B) two standard deviations from either side of the mean.
• C) three standard deviations from either side of the mean.
• D) four standard deviations from either side of the mean.

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Definitions:

Income Statement

A financial report that shows a company's revenues, expenses, and profit or loss over a specific period.

Contribution Margin Ratio

The percentage of each sales dollar that remains after deducting variable costs, calculated as contribution margin divided by sales.

Net Operating Income

The profit of a business after operating expenses are subtracted from gross income.

Break-even Point

The production level or sales volume at which total revenues equal total expenses, resulting in no net profit or loss.