A Manufacturing Process Produces Items Whose Weights Are Normally Distributed

question 5

Short Answer

A manufacturing process produces items whose weights are normally distributed. It is known that 22.57% of all the items produced weigh between 100 grams up to the mean and 49.18% weigh from the mean up to 190 grams. Determine the mean and the standard deviation.

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Definitions:

Price Level

A measure of the average of all prices in an economy, indicating the cost of goods and services at a specific time.

Interest Rate

A percentage of a loan amount charged by the lender to the borrower for the use of money.

Money Supply

The grand total of all economic assets measured in currency available at a specific time in an economy, which covers coins, banknotes, and the balances in checking and savings accounts.

Money Supplied

The entire sum of assets in terms of money present within an economy at a given time.