Exhibit 6-8 The Life Expectancy of a Particular Brand of Tire Is

question 98

Multiple Choice

Exhibit 6-8
The life expectancy of a particular brand of tire is normally distributed with a mean of 40,000 and a standard deviation of 5,000 miles.
-Refer to Exhibit 6-8. What is the probability that a randomly selected tire will have a life of at least 47,500 miles?

• A)0.4332
• B)0.9332
• C)0.0668
• D)0.4993

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Definitions:

Check 21

Legislation that allows banks to handle more checks electronically, which speeds up the check clearing process by creating a digital version of the original paper check.

Truncated Version

A shortened form or version of a document, statement, or piece of information, typically preserving only the most essential parts.

Stop-Payment Order

An order by a drawer that instructs the drawee bank not to pay an issued check.

Drawer

In the context of financial transactions, the person who writes or issues a cheque or draft directing a bank to pay the specified amount to a third party.