The Population of Lengths of Aluminum-Coated Steel Sheets Is Normally

question 123

Multiple Choice

The population of lengths of aluminum-coated steel sheets is normally distributed with a mean of 30.05 inches and a standard deviation of 0.2 inches.What is the probability that a sheet selected at random from the population is between 29.75 and 30.5 inches long?

• A).4332
• B).4878
• C).0546
• D).9210

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Definitions:

Seller

An individual or business that offers goods or services for sale to consumers or other businesses.

Lemons Problem

A phenomenon where the presence of information asymmetry in a market leads to low-quality products being sold, as sellers have more information about the product than buyers.

Moral-Hazard

A situation where one party engages in risky behavior knowing that it is protected against the risk because another party will bear the cost.

Above-Equilibrium Wages

Wages that are higher than the market equilibrium, often used by employers to reduce turnover or increase productivity.