A Manufacturer of Galvanized Chains Advertises the Load Capacity of a 16-Foot

question 54

Short Answer

A manufacturer of galvanized chains advertises the load capacity of a 16-foot length of chain has an average of 2650 lbs.and a standard deviation of 520 lbs.If a retailer receives an order of 75 chains,what is the probability that the sample mean will be greater than 2775 lbs?

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Definitions:

Raise Capital

The process by which a company or individual secures money from investors or lenders for business activities or expansion.

TSX

The Toronto Stock Exchange, which is the largest stock exchange in Canada, trading Canadian securities.

Dealer Market

A financial market mechanism in which buyers and sellers execute transactions through dealers who buy and sell for their own accounts.