The Employees of Cartwright Manufacturing Are Awarded Efficiency Ratings

question 15

Multiple Choice

The employees of Cartwright Manufacturing are awarded efficiency ratings. The distribution of the ratings approximates a normal distribution. The mean is 400,the standard deviation is 50. What is the area under the normal curve between 400 and 482?

• A)0.5000
• B)0.4495
• C)0.3413
• D)0.4750

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Definitions:

Convertibles

Securities, typically bonds or preferred shares, that can be converted into a predetermined number of common shares at the option of the holder.

Call Protection

An initial period during which a callable bond may not be called.

Conversion Feature

An option within certain bonds or preferred stocks that allows them to be converted into a predetermined amount of the issuer's common stock.

Dividend Yield

The annual dividend payments to shareholders expressed as a percentage of the stock's current price.