The Intelligence Quotient (IQ) Test Scores for Adults Are Normally

question 58

Multiple Choice

The Intelligence Quotient (IQ) test scores for adults are normally distributed with a mean of 100 and a standard deviation of 15. What is the probability we could select a sample of 50 adults and find the mean of this sample is between 95 and 105?

• A) 0.0182
• B) 0.9818
• C) 1.00
• D) Very unlikely

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Forward Buy

A purchasing strategy where a buyer purchases more inventory than currently needed at a lower price, anticipating future price increases or supply shortages.

Peak Demand

The period of highest customer demand for a product or service, which can strain resources and require careful planning to manage effectively.

Overall Profitability

A measure of the total financial gain or success of a business after all expenses and costs have been subtracted from revenue.