If the Z-Value for a Given Value X of the Random

question 55

Multiple Choice

If the z-value for a given value x of the random variable x is z = 1.96,and the distribution of x is normally distributed with a mean of 60 and a standard deviation of 6,then the x-value that this z-value corresponds to is:

• A) 71.76.
• B) 67.96.
• C) 61.96.
• D) 48.24.

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Definitions:

Consumption

The use of goods and services by households or individuals, which is a primary component of economic activity.

Income

The cash flow generated out of work or investments, typically on a steady basis.

Utility Function

A mathematical representation of a consumer's preference ranking over bundles of goods, showing the level of satisfaction or utility derived.

Commodity

A basic good used in commerce that is interchangeable with other goods of the same type; commodities are often used as inputs in the production of other goods or services.