Which of the Following Statements Is Not a Property of the Normal

question 154

Multiple Choice

Which of the following statements is not a property of the normal probability distribution?

• A)The normal distribution is symmetric.
• B)95.44% of all possible observed values of the random variable x are within three standard deviations of the population mean.
• C)The mean,median,and mode are equal.
• D)The area under the normal curve to the right of the mean is equal to the area under the normal curve to the left of the mean.
• E)68.28% of all possible observed values of the random variable x are within one standard deviation of the population mean.

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Definitions:

Elastic

A characteristic of a product or service demand that indicates a sensitivity to price changes, where a small change in price leads to a significant change in quantity demanded or supplied.

Immediate Market Period

A very short time frame in which the supply of goods is fixed, meaning that the quantity available for sale cannot be changed regardless of price.

Equilibrium Price

The price at which the quantity of a good demanded equals the quantity supplied, leading to market stability.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price.