Students Who Have Completed a Speed Reading Course Have Reading

question 30

Multiple Choice

Students who have completed a speed reading course have reading speeds that are normally distributed with a mean of 950 words per minute and a standard deviation equal to 220 words per minute. Based on this information, what is the probability of a student reading at more than 1400 words per minute after finishing the course?

• A) 0.0202
• B) 0.5207
• C) 0.4798
• D) 0.9798

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level, at a given point in time.

Price Decreases

A situation where the cost of goods or services lowers over time, often leading to increased consumer purchasing power.

Budget Constraint

The limitations on the purchase of goods and services imposed by a budget, representing the combination of goods and services that a consumer can afford with a fixed income.

Giffen Good

A type of good for which demand increases as its price increases, contradicting the basic laws of demand in economics due to the impact of strong income effects.