It Is Known That the Length of a Certain Product

question 79

Multiple Choice

It is known that the length of a certain product X is normally distributed with μ = 20 inches. How is the probability P(X > 16) related to P(X < 16) ?

• A) P(X > 16) is greater than P(X < 16).
• B) P(X > 16) is smaller than P(X < 16).
• C) P(X > 16) is the same as P(X < 16).
• D) No comparison can be made with the given information.

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Definitions:

Indifference Curves

Graphical representations in consumer theory that show combinations of two goods among which a consumer is indifferent.

Downward Sloping

A term often used to describe a graph line indicating a decrease in one variable as another variable increases, such as price and demand.

Indifference Curves

Graphical representations that show combinations of two goods between which a consumer is indifferent.

Perfect Substitutes

Goods or services that can be used in exactly the same way and are interchangeable in consumption without affecting consumer satisfaction.