An Aptitude Test Has a Mean Score of 80 and a Standard

question 30

Multiple Choice

An aptitude test has a mean score of 80 and a standard deviation of 5.The population of scores is normally distributed.What raw score corresponds to the 70^th percentile?

• A)77.4
• B)83.5
• C)82.6
• D)76.5

Evaluate investments based on opportunity costs and alternative investments.

Determine the financial impact of replacing or disposing of equipment.

Grasp the basic principles of relevant revenues and costs in decision making.

Understand the implications of accepting special orders on company operations.

---

Definitions:

Average Variable Cost Curve

A graphical representation that shows the relationship between a firm's average variable costs and its quantity of output.

Marginal Cost

The cost associated with producing an extra unit of output, crucial for decision-making in production and pricing strategies.

Total Costs

The complete amount of costs incurred by a business to produce a specific amount of goods or services, including fixed and variable costs.

Total Variable Costs

The sum of all costs that vary with the level of output, including costs for raw materials, labor, and other expenses that increase as production increases.