The Weight of a Bag of Corn Chips Is Normally

question 44

Short Answer

The weight of a bag of corn chips is normally distributed with a mean of 22 ounces and a standard deviation of ½ ounces. What is the probability that a bag of corn chips weighs more than 21 ounces? _____

---

Definitions:

Consignee

The person or company that receives goods for sale, storage, or shipment on behalf of another, holding goods without taking ownership.

FOB Destination

A shipping term where the seller is responsible for the delivery of goods to a specific destination, absorbing all costs and risks until the goods are received by the buyer.

Perpetual Inventory System

A method of inventory management where updates to inventory records are made continuously as transactions occur.

Net Price Method

An accounting method where discounts are not recorded in the accounting records; instead, purchases are recorded at the net purchase price.