Suppose X Is a Normal Random Variable with Mean 70

question 100

Short Answer

Suppose X is a normal random variable with mean 70 and standard deviation 3.Then P(X = 3)= ____________________.

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Definitions:

Excess Capacity

A situation where a company can produce more goods or services than currently demanded by the market, indicating underutilization of resources.

Allocated Fixed Costs

Fixed costs that are assigned or distributed across different departments, products, or activities within a company for budgeting and accounting purposes.

Direct Fixed Manufacturing Costs

Fixed costs directly associated with the manufacturing process, such as salaries of production supervisors.

Discontinue

The process of ending the production and sale of a product or service, often due to strategic reevaluation or lack of success.