A Grouped Frequency Distribution Has a Mean of 100 and a Standard

question 99

Multiple Choice

A grouped frequency distribution has a mean of 100 and a standard deviation of 20. The class limits for one class are 50 up to 60. Based on the normal distribution, what is the probability that an observation would be in this class?

• A) 0.4938
• B) 0.4772
• C) 0.0166
• D) -0.0166

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Definitions:

Physical Count

The process of manually counting all inventory items in a store or warehouse to verify quantities and condition.

Cost of Goods Sold

The costs directly resulting from the creation of products a company sells, including expenses related to materials and labor.

Gross Profit

The financial metric that represents the difference between sales revenue and the cost of goods sold.

LIFO Inventory Method

An accounting technique where the most recently acquired items of inventory are recorded as sold first, often used to calculate cost of goods sold and ending inventory.