Exhibit 6-9 The Average Price of Personal Computers Manufactured by MNM Company

question 20

Multiple Choice

Exhibit 6-9
The average price of personal computers manufactured by MNM Company is $1,200 with a standard deviation of $220. Furthermore, it is known that the computer prices manufactured by MNM are normally distributed.
-Refer to Exhibit 6-9. What is the minimum value of the middle 95% of computer prices?

• A)$1,768.80
• B)$1,295.80
• C)$2,400.00
• D)$768.80

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Definitions:

Tolman

Edwin C. Tolman was an American psychologist who made significant contributions to the study of learning and motivation in what came to be known as cognitive maps.

Demand

The desire or need for products, services, or resources combined with the ability and willingness to pay for them.

Food Deprivation

A condition resulting from lack of food intake, leading to physical and psychological effects and often used in experiments to motivate behaviors in animals.

Eyeblink Response

A reflex action where the eyelids close rapidly to protect the eyes, typically triggered by sudden stimuli.