Given a Normal Distribution,assume You Want to Earn a Rate

question 12

Multiple Choice

Given a normal distribution,assume you want to earn a rate of return that plots more than three standard deviations above the mean.What is your probability of earning such a return in any one year?

• A).14 percent or less
• B).15 to .25 percent
• C).26 to .50 percent
• D).51 to 1 percent
• E)More than 1 percent

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Definitions:

Inventory

Goods and materials that a business holds for the ultimate goal of resale or processing.

Retail Method

A technique used by retailers to value inventory based on the retail price of goods, typically used to estimate ending inventory and cost of goods sold.

Inventory Cost

The total cost associated with holding and managing inventory, including costs of storage, insurance, deterioration, and obsolescence.

Gross Profit

The profit a company makes after deducting the costs associated with making and selling its products or the costs associated with providing its services.