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The Japan Sumo Association has begun to measure the body fat of wrestlers to try to combat the growing problem of excessive obesity within the sport. As of last year, the average wrestler weighed 412 pounds. Suppose the weights of sumo wrestlers are normally distributed, with a standard deviation of 37 pounds. What is the probability that a randomly selected wrestler weighs between 350 and 450 pounds?
Diminishing Marginal Returns
A principle stating that as additional units of a variable input are added to a fixed input, the additions to output will eventually decrease.
Law of Diminishing Returns
An economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other variables remain constant.
Total Cost
The aggregate of expenses related to the manufacturing of products or provision of services, which includes costs that stay the same as well as those that vary.
Fixed Costs
Expenses that do not vary with the level of production or business activity, such as rent, salaries, and insurance premiums, remaining constant regardless of output.
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