A Normal Distribution Has a Mean of µ = 100

question 64

Short Answer

A normal distribution has a mean of µ = 100 with σ = 20.Find the following probabilities:
a. p(X > 102)
b. p(X < 65)
c. p(X < 130)
d. p(95 < X < 105)

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Definitions:

Inelastic Demand

A market situation where the demand for a product does not significantly change in response to changes in price, often applicable to necessities or products with few substitutes.

Board of Regents

An administrative body that governs institutions of higher education, overseeing budgetary matters, academic policies, and major appointments.

Elastic Demand

A situation in which the quantity demanded of a good or service is highly responsive to changes in its price.

Price Cut

A reduction in the selling price of goods or services, usually aimed at increasing demand or facing competition.