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The Distribution of Actual Weight of Potato Chips in a 16

question 129

Multiple Choice

The distribution of actual weight of potato chips in a 16 ounce sack is thought to be bell-shaped with a mean equal to 16 ounces and a standard deviation equal to 0.45 ounces.Based on this,between what two limits could we expect 95 percent of all sacks to weigh?

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Definitions:

Consumers Believe

Refers to the perceptions or expectations that consumers hold about a product, service, or market, which can significantly impact their purchasing decisions.

Substitute Good

A product or service that can be easily replaced with another by consumers, often because it performs a similar function.

Price of Fish

The cost for which fish is sold in the market, influenced by factors such as species, availability, demand, and fishing costs.

Equilibrium Quantity

The quantity supplied and demanded at the equilibrium price, where the quantity that buyers are willing to buy is equal to the quantity sellers are willing to sell.

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